FX.co ★ Five Star Bancorp Prices Public Offering Of $70 Mln Of Shares; Stock Down Over 8%

Five Star Bancorp, recognized as a bank holding company, recently announced the pricing details for a public offering previously declared. The offering, including around 3,450,000 shares, has been priced at $21.75 per share, resulting in proceeds approximately $70.9 million.

In addition, Five Star Bancorp provided a 30-day option to the underwriters, allowing them to purchase an additional 517,500 shares at the identical offering price. The bank plans to utilize the profits generated by this public offering for general corporate and working capital needs. This offering is expected to be finalized on or around April 2.

The firms that have been key players in this offering include Keefe, Bruyette & Woods, a Stifel Company working as the book runner, while Stephens Inc. and D.A. Davidson & Co. have the role of co-managers in the process.

In recent trading news, Five Star Bancorp shares experienced an 8.61 percent decline, standing at $21.80 on the Nasdaq.