First Foundation Inc. (NASDAQ: FFWM), a financial services company (the
“Company”) with two wholly-owned operating subsidiaries, First
Foundation Advisors and First Foundation Bank, which collectively
provide investment management, wealth planning, consulting, insurance,
trust and banking services primarily to high net-worth individuals and
businesses, today announced that the underwriters of its previously
announced public offering have exercised in full their over-allotment
option to purchase an additional 935,065 shares of the Company’s common
stock at the public offering price of $19.25 per share, less customary
underwriting discounts and commissions. The additional shares were
delivered to the underwriters on August 14, 2015. The net proceeds from
the exercise of the over-allotment option, after underwriting discount
will be approximately $17.1 million.
Sandler O’Neill + Partners, L.P., D.A. Davidson & Co. and Raymond James
& Associates, Inc. served as joint book-running managers for the
offering.
The shares were issued and sold pursuant to the Company’s shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission (“SEC”) on July 1, 2015, which was declared
effective on July 20, 2015, and a prospectus supplement and accompanying
prospectus relating to the offering of common stock. A copy of the
prospectus supplement and accompanying prospectus are available on the
SEC’s website at www.sec.gov.
Copies may also be obtained from Sandler O’Neill + Partners, L.P., 1251
Avenue of the Americas, 6th Floor, New York, New York 10020, Attn:
Syndicate Operations, or by phone at 1-866-805-4128.
This announcement is for informational purposes only and is not an
offer to sell or the solicitation of an offer to buy any securities of
the Company, which is made only by means of a prospectus supplement and
related base prospectus, nor will there be any sale of these securities
in any state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or other jurisdiction. Before you invest, you should read the
base prospectus in the registration statement, the prospectus supplement
relating to the offering and other documents the Company files with the
SEC for more complete information about the Company and this offering.
About First Foundation
First Foundation Inc., a financial institution founded in 1990, provides
integrated investment management, wealth planning, consulting,
insurance, trust and banking services. The Company is headquartered in
Irvine, California with offices in Newport Beach, Pasadena, West Los
Angeles, San Diego, Palm Desert and the Imperial Valley in California,
in Las Vegas, Nevada and in Honolulu, Hawaii. For more information,
please visit our website at www.ff-inc.com.
Forward-Looking Statements
The statements contained herein that are not historical facts are
forward-looking statements (as defined by the Private Securities
Litigation Reform Act of 1995) and are based on management’s current
expectations and beliefs concerning future developments and their
potential effects on the Company. Such statements involve inherent risks
and uncertainties, many of which are difficult to predict and are
generally beyond the control of the Company. There can be no assurance
that future developments affecting the Company will be the same as those
anticipated by management. These statements are evidenced by terms such
as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,”
and similar expressions. Although these statements reflect management’s
good faith beliefs and projections, they are not guarantees of future
performance and they may not prove true. These projections involve risks
and uncertainties that could cause actual results to differ materially
from those addressed in the forward-looking statements. Such risks and
uncertainties include, but are not limited to, the risk of incurring
loan losses, which is an inherent risk of the banking business; the risk
that the economic recovery in the United States will stall or will be
adversely affected by domestic or international economic conditions and
the risk that the Federal Reserve Board will continue to keep interest
rates low, any of which could adversely affect our interest income and
interest rate margins and, therefore, our future operating results; and
the risk that the performance of our investment management business or
of the equity and bond markets could lead clients to move their funds
from or close their investment accounts with us, which would reduce our
assets under management and adversely affect our operating results. For
a discussion of these risks and uncertainties, see the prospectus
supplement and base prospectus under the heading “Risk Factors” and the
section of the periodic reports filed by the Company with the SEC
entitled “Risk Factors”.
The Company specifically disclaims any obligation to update any factors
or to publicly announce the result of revisions to any of the
forward-looking statements included herein to reflect future events or
developments except as required by law.
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