First Republic Bank (“First Republic”) (NYSE: FRC), a leading
private bank and wealth management company, today announced that it
has agreed to sell 2,000,000 shares of its common stock in an
underwritten public offering. First Republic has also granted the
underwriters a 30-day option to purchase up to an additional
300,000 shares from First Republic. BofA Merrill Lynch, Goldman
Sachs & Co. LLC, J.P. Morgan, Morgan Stanley and UBS Investment
Bank are serving as joint bookrunning managers.
First Republic intends to use the net proceeds from the offering
for general corporate purposes, which may include, among other
things, funding loans or purchasing investment securities for its
portfolio.
Closing of the offering is expected to occur on or about
October 26, 2017, subject to customary closing conditions.
The offering will be made only by means of an offering circular.
The preliminary offering circular relating to the offering will be
available at www.frc-offering.com. Copies of the preliminary
offering circular may also be obtained from Merrill Lynch, Pierce,
Fenner & Smith Incorporated, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus
Department, or email: dg.prospectus_requests@baml.com; from Goldman
Sachs & Co. LLC, Prospectus Department, 200 West Street, New
York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316
or by emailing prospectus-ny@ny.email.gs.com; from J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, or by calling toll-free at (866) 803-9204; from
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, New York, New York 10014, or by email at
prospectus@morganstanley.com; or from UBS Securities LLC,
Attention: Prospectus Department, 1285 Avenue of the Americas, New
York, NY, 10019 or by calling 1-888-827-7275.
This press release is for informational purposes only and shall
not constitute an offer to sell or a solicitation of an offer to
buy the securities, nor shall there be any sale of the securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. The
securities are neither insured nor approved by the Federal Deposit
Insurance Corporation.
About First Republic
Bank
Founded in 1985, First Republic and its subsidiaries offer
private banking, private business banking and private wealth
management, including investment, trust and brokerage services.
First Republic specializes in delivering exceptional,
relationship-based service, with a solid commitment to
responsiveness and action. Services are offered through preferred
banking or wealth management offices primarily in San Francisco,
Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego,
California; Portland, Oregon; Boston, Massachusetts; Palm Beach,
Florida; Greenwich, Connecticut and New York, New York. First
Republic offers a complete line of banking products for individuals
and businesses, including deposit services, as well as residential,
commercial and personal loans.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements about First Republic’s expectations, beliefs,
plans, predictions, forecasts, objectives, assumptions or future
events or performance are not historical facts and may be
forward-looking. These statements are often, but not always, made
through the use of words or phrases such as “anticipates,”
“believes,” “can,” “could,” “may,” “predicts,” “potential,”
“should,” “will,” “estimates,” “plans,” “projects,” “continuing,”
“ongoing,” “expects,” “intends” and similar words or phrases.
Accordingly, these statements are only predictions and involve
estimates, known and unknown risks, assumptions and uncertainties
that could cause actual results to differ materially from those
expressed in them. All forward-looking statements are necessarily
only estimates of future results, and there can be no assurance
that actual results will not differ materially from expectations,
and, therefore, you are cautioned not to place undue reliance on
such statements. Any forward-looking statements are qualified in
their entirety by reference to the factors discussed in the section
titled “Risk Factors” in First Republic’s preliminary offering
circular relating to this offering, including the documents
incorporated by reference therein, and other risks described in
documents subsequently filed by First Republic from time to time.
Further, any forward-looking statement speaks only as of the date
on which it is made, and First Republic undertakes no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which the statement is made or to
reflect the occurrence of unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20171023006407/en/
Investors:Addo CommunicationsAndrew Greenebaum / Lasse
Glassen,
310-829-5400andrewg@addoir.comlasseg@addoir.comorMedia:Blue
Marlin PartnersGreg Berardi,
415-239-7826greg@bluemarlinpartners.com
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