First Foundation (FFWM) has issued an announcement.
First Foundation Inc. successfully completed a significant capital raise of approximately $228 million through the sale of common and preferred stock, as well as issuance of warrants. These financial maneuvers involve complex mechanisms such as convertible preferred stocks and net-settled warrants, with the potential to substantially increase the company’s common stock shares upon conversion or exercise. This strategic financial infusion is aimed at strengthening the company’s capital structure, while also necessitating stockholder approval for an amendment to increase authorized shares and for the substantial issuance of new shares. Additionally, the company appointed Simone Lagomarsino as the new President of First Foundation Bank, bringing her extensive industry experience to the role.
Learn more about FFWM stock on TipRanks’ Stock Analysis page.
