Business Context and Reporting Period
This Form 8-K Current Report was filed by First PacTrust Bancorp, Inc. on July 2, 2013. The report details the completion of an equity transaction involving the exercise of an over-allotment option under an underwriting agreement dated June 21, 2013.
Key Financial Metrics
The filing reports the issuance and sale of 360,000 shares of voting common stock (Over-Allotment Shares). The public offering price was $13.00 per share, while the shares were sold to underwriters at $12.285 per share. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
The primary material event is the full exercise of the underwriters' over-allotment option, resulting in the issuance of an additional 360,000 shares. This transaction was executed pursuant to the Underwriting Agreement with Raymond James & Associates, Inc., as representative of the underwriters.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclaimer that the summary of the Underwriting Agreement is subject to the full text of the agreement filed as Exhibit 1.1. No unusual items or contingencies are disclosed in this specific report.
Investor Verification Checklist
- Verify the total number of shares outstanding post-transaction by reviewing the company's most recent 10-K or 10-Q.
- Confirm the total gross proceeds generated from the 360,000 Over-Allotment Shares.
- Review the full Underwriting Agreement (Exhibit 1.1) for details on underwriting discounts and commissions.
- Check subsequent filings for the use of proceeds from this offering.