India, March 28 -- Shares of Five Star Bancorp (FSBC) are slipping over 7% on Thursday after the company priced a secondary offering of about 3.5 million shares at $21.75 a share.
FSBC is currently trading at $22.09, down $1.71 or 7.18%, on the Nasdaq. The stock opened its trading at $21.75 after closing Wednesday at $23.80. The stock has traded between $17.74 and $28.25 in the past 52-week period.
Five Star Bancorp, a holding company that operates Five Star Bank, said priced a previously announced public offering of 3.45 million common shares at a price of $21.75 per share. The expected proceeds are about $70.9 million.
The company intends to use the proceeds for general corporate purposes and to support its continued growth, including ...