RANCHO CORDOVA, Calif. - Five Star Bancorp (NASDAQ:FSBC), the parent company of Five Star Bank, has initiated an underwritten public offering of its common stock shares. In addition to the primary offering, the company plans to provide underwriters a 30-day option to purchase extra shares.
Keefe, Bruyette & Woods, a Stifel Company, has taken the lead as the bookrunner for the offering. Stephens Inc. and D.A. Davidson & Co. are participating as co-managers. The proceeds from this offering are earmarked for general corporate purposes to fuel Five Star's ongoing growth, including investments in the Bank to capitalize on growth opportunities and to bolster working capital.
The public offering is being conducted under a registration statement on Form S-3, which the Securities and Exchange Commission (SEC) declared effective on February 13, 2023.
Interested investors are advised to consult the preliminary prospectus supplement, the prospectus supplement, and the accompanying prospectus filed with the SEC to gain a fuller understanding of the company and the offering. These documents are accessible via the SEC's website.
Five Star Bancorp, headquartered in Rancho Cordova, California, operates through its wholly owned subsidiary, Five Star Bank, which has seven branches across Northern California.
The company's forward-looking statements, as disclosed in the press release, indicate plans and expectations for future operations, which are subject to a range of risks and uncertainties that could cause actual results to differ materially.
This news is based on a press release statement from Five Star Bancorp. The company has cautioned that forward-looking statements involve known and unknown risks, and there can be no assurance that future results will match these projections. Investors should consider these risks when evaluating the company's forward-looking statements.
For further details, prospective investors should refer to the documents filed by Five Star Bancorp with the SEC, which contain more comprehensive information about the company and the current offering.
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