Pacific City Financial Corporation Announces Closing of Initial Public Offering
14 Août 2018 - 6:17PM
Business Wire
Pacific City Financial Corporation (“Pacific City”) (Nasdaq:
PCB), the bank holding company for Pacific City Bank, announced
today that it has completed the initial public offering of
2,385,000 shares of its common stock at a price of $20.00 per
share. Pacific City’s common stock began trading on the NASDAQ
Global Select Market on August 10, 2018 under the trading symbol
“PCB.”
The underwriters have a 30-day option to purchase up to an
additional 357,750 shares of common stock at the initial public
offering price less the underwriting discount. Pacific City
Financial Corporation intends to use the net proceeds from the
proposed offering for general corporate purposes, including
maintenance of its required regulatory capital, to support future
organic growth and other strategic alternatives.
Keefe, Bruyette & Woods, Inc., A Stifel Company, Raymond
James and Sandler O’Neill + Partners, L.P. served as joint
book-running managers for the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on August 9, 2018. The offering was made only by means
of a prospectus. Copies of the final prospectus related to the
offering may be obtained from Keefe, Bruyette & Woods, Inc.,
Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor,
New York, NY 10019; or by calling (800) 966-1559, or from Raymond
James & Associates, Inc., 880 Carillon Parkway, St. Petersburg,
Florida 33716, Attention Equity Capital Markets, or by calling
(800)-248-8863, and from Sandler O’Neill + Partners, L.P.,
Attention: Syndicate, 1251 Avenue of the Americas, 6th Floor, New
York, New York 10020, by emailing syndicate@sandleroneill.com or by
calling (866) 805-4128. Copies of the registration statement
relating to these securities and the prospectus may also be
obtained free of charge from the website of the SEC at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Pacific City Financial Corporation
Pacific City is the bank holding company for Pacific City Bank,
a $1.6 billion asset bank, offering a full suite of commercial
banking services through its wholly owned subsidiary, Pacific City
Bank, a California state chartered bank, to small to medium-sized
businesses, individuals and professionals, primarily in Southern
California, and predominantly in Korean-American and other minority
communities.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. These
forward-looking statements represent plans, estimates, objectives,
goals, guidelines, expectations, intentions, projections and
statements of our beliefs concerning future events, business plans,
objectives, expected operating results and the assumptions upon
which those statements are based. Forward-looking statements
include without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or
achievements, and are typically identified with words such as
‘‘may,’’ “could,” “should,” “will,” “would,” “believe,”
“anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or
words or phases of similar meaning. We caution that the
forward-looking statements are based largely on our expectations
and are subject to a number of known and unknown risks and
uncertainties that are subject to change based on factors which
are, in many instances, beyond our control. Actual results,
performance or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking
statements. Any forward-looking statements presented herein are
made only as of the date of this press release, and we do not
undertake any obligation to update or revise any forward-looking
statements to reflect changes in assumptions, the occurrence of
unanticipated events, or otherwise, except as required by law.
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Investor RelationsPacific City Financial CorporationTimothy
Chang, 213-210-2000EVP & CFO
Pacific Capital Bancorp (MM) (NASDAQ:PCBCD)
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