May 05, 2021
Five Star Bancorp, a bank holding company headquartered in Rancho Cordova, California, has announced the pricing of the initial public offering of 5,265,000 shares of its common stock, at a public offering price of US$20 per share for expected net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, of approximately US$94.8 million. The shares began trading on Wednesday, May 5, 2021 on the Nasdaq Global Select Market under the symbol “FSBC.” The offering is expected to close on or about May 7, 2021, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP represents the underwriters in the offering with a corporate team led by Century City partner Steven Stokdyk and Los Angeles partner Brent Epstein, with Los Angeles associates Grace Garcea and Molly Wolfe. Advice was also provided on tax matters by Los Angeles partner Samuel Weiner, with Los Angeles associate Kathryn Harrington and Houston associate Mike Rowe; on benefits and compensation matters by Los Angeles partner Larry Seymour and New York partner Jennifer Pepin, with Los Angeles associate Harrison Taylor; and on bank regulatory matters by New York partner Alan Avery and New York counsel Pia Naib.