First Republic Bank Prices $204 Mln Stock Offering

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First Republic Bank ( FRC ) said Wednesday it has priced an underwritten public offering of 2 million shares of its common stock for expected gross proceeds of approximately $204 million.

The underwriters have been granted a 30-day option to purchase up to an additional 0.3 million shares.

The bank intends to use the net proceeds for general corporate purposes.

The offering is expected to close on or about Sept.14, subject to customary closing conditions.

Shares were 2.2% lower in recent morning trade.

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This article appears in: Investing , ETFs
Referenced Symbols: FRC

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