First Republic Bank slips 2% after the bell on stock offering

Feb. 07, 2023 4:58 PM ETFirst Republic Bank (FRC)By: Jessica Kuruthukulangara, SA News Editor1 Comment

Financial Data Analysis Graph Over One Hundred American Dollar Bill


  • First Republic Bank (NYSE:FRC) said Tuesday it will sell 2M shares in an underwritten public offering, sending its stock 2.1% lower after the bell.
  • The company granted the underwriters a 30-day option to buy up to an additional 300K shares.
  • Net proceeds will be used for general corporate purposes, which may include funding loans or buying investment securities.
  • The offering is expected to close on or about February 10.
  • Earlier, First Republic (FRC) Q4 results topped estimates.

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