Business Context and Reporting Period
This Form 8-K was filed by First PacTrust Bancorp, Inc. on June 21, 2013. The filing reports a significant capital raising event involving the pricing of a public offering and a registered direct offering of common stock.
Key Financial Metrics
The filing details the following capital raise metrics:
- Underwritten Offering: 2,400,000 shares of voting common stock priced for gross proceeds of approximately $31 million.
- Direct Offering: 1,153,846 shares of common stock sold to two institutional investors for gross proceeds of approximately $15 million.
- Over-Allotment Option: Underwriters granted a 30-day option to purchase up to 360,000 additional shares for potential gross proceeds of approximately $4.7 million.
- Total Potential Proceeds: Approximately $50.7 million (excluding over-allotment) to $55.4 million (including full over-allotment).
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity metrics as this is a current report regarding a specific event rather than a periodic financial statement.
Material Changes
The primary material change is the immediate increase in the company's share count and equity capital resulting from the two offerings announced on June 21, 2013. No comparative financial data versus prior periods is included in this specific filing.
Guidance, Outlook, and Risks
The filing does not contain specific management guidance, outlook, or risk factors beyond standard disclosures. It notes that the offerings are being made only by means of a prospectus supplement and accompanying base prospectus. Investors are directed to read the registration statement (File No. 333-170622) and related prospectus supplements for complete information regarding risks and contingencies.
Important Facts for Investor Verification
- Verify the final use of proceeds as detailed in the final prospectus supplement.
- Confirm the final share count and dilution impact after the potential exercise of the 30-day over-allotment option.
- Review the registration statement (File No. 333-170622) for detailed risk factors and financial condition.
- Check for any subsequent filings regarding the final closing of the offerings.