Brief: FirstSun Capital Bancorp And Homestreet Announce Strategic Merger And $175 Million Equity Raise

Mechanics Bancorp

16/01/2024 11:30

Jan 16 (Reuters) - Firstsun Capital Bancorp  FSUN.PK :
    * FIRSTSUN CAPITAL BANCORP AND HOMESTREET, INC. ANNOUNCE
TRANSFORMATIONAL STRATEGIC MERGER AND $175 MILLION EQUITY RAISE
    * HOMESTREET INC: HOMESTREET SHAREHOLDERS WILL RECEIVE
0.4345 OF A
SHARE OF FIRSTSUN COMMON STOCK FOR EACH SHARE OF HOMESTREET
COMMON STOCK
    * HOMESTREET INC: PROPOSED DEAL FOR $14.75 PER SHARE
    * HOMESTREET INC - DEAL RESULTS IN 30%+ ACCRETION TO FSUN'S
2025
ESTIMATED EPS
    * HOMESTREET: MOLLIE HALE CARTER, EXECUTIVE CHAIRMAN OF
FIRSTSUN,
& NEAL ARNOLD, CEO OF FIRSTSUN, WILL RETAIN CURRENT ROLES AT
COMBINED CO
    * HOMESTREET: MARK MASON, EXECUTIVE CHAIRMAN, PRESIDENT &
CEO OF
HOMESTREET, WILL SERVE AS EXECUTIVE VICE CHAIRMAN AT COMBINED CO
    * HOMESTREET INC - THREE CURRENT HOMESTREET DIRECTORS,
INCLUSIVE
OF MASON, WILL JOIN COMBINED COMPANY BOARD OF DIRECTORS AT
CLOSING
    * HOMESTREET- IN EQUITY CAPITAL RAISE TRANSACTION, FIRSTSUN
WILL
SELL ABOUT 2.46 MILLION SHARES OF ITS COMMON STOCK AT $32.50 PER
SHARE AT DEAL ANNOUNCEMENT
    * HOMESTREET INC -IN EQUITY CAPITAL RAISE TRANSACTION,
FIRSTSUN
WILL SELL ABOUT 2.92 MILLION SHARES OF ITS COMMON STOCK AT
$32.50 PER SHARE AT DEAL CLOSING
    * HOMESTREET INC - COMBINED ENTITY IS EXPECTED TO BE LISTED
ON
NASDAQ UPON CLOSING

Source text for Eikon:  ID:nBw8DvWt2a 
Further company coverage:  FSUN.PK 

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