The Daily Journal covered Manatt’s representation of the underwriting syndicate in First Foundation Inc.’s initiation of an $80 million "at-the-market" equity offering program. Manatt’s Craig Miller, co-chair of the firm’s financial services practice, and partner David Gershon led negotiations for the underwriters in the offering.
First Foundation, headquartered in Irvine, California, is a financial institution that provides private wealth management, along with personal and business banking services, from its offices in California, Nevada and Hawaii. The institution can now offer and sell shares of its common stock at its discretion having an aggregate value of up to $80 million through underwriters under terms of the equity distribution agreement.
First Foundation said it intends to use the potential net proceeds from the sale of its common stock in this offering for general corporate purposes, including support of growth initiatives and funds for possible acquisitions, if those opportunities arise.