9일 미국 증권거래위원회에 따르면 First Foundation Inc. (NYSE: FFWM) announced the completion of a $228 million capital raise from investors including Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital. The transaction involved the issuance of 11,308,676 shares of common stock at a price of $4.10 per share, along with 29,811 shares of Series A Noncumulative Convertible Preferred Stock and 14,490 shares of Series B Noncumulative Convertible Preferred Stock. Investors also received seven-year warrants to purchase Series C Non-Voting Common Equivalent Stock.

Scott F. Kavanaugh, President and CEO of First Foundation, expressed gratitude to the new investors, highlighting the commitment and confidence in the Company’s vision to build a leading regional bank and generate long-term shareholder value.
Advisors for the transaction included Jefferies LLC as the exclusive financial advisor and sole placement agent, with legal counsel from Sheppard, Mullin, Richter & Hampton LLP for First Foundation, Skadden, Arps, Slate, Meagher & Flom LLP for Fortress Investment Group, Cleary Gottlieb Steen & Hamilton LLP for Canyon Partners, and Sullivan & Cromwell LLP for Jefferies.

First Foundation Inc., headquartered in Texas, offers a wide range of financial services including personal and business banking, private wealth management, and investment services. As of March 31, 2024, the Company reported $13.6 billion in assets, $10.1 billion in loans, $10.6 billion in deposits, and total stockholders' equity of $929 million.

Fortress Investment Group, founded in 1998, manages $49.0 billion in assets across various investment strategies and serves approximately 2,000 institutional clients and private investors worldwide.
Canyon Partners, established in 1990, specializes in credit-intensive investment strategies across corporate credit, structured credit, and real estate. The firm manages investments for a global clientele.

Strategic Value Bank Partners focuses on investment in community banking, leveraging industry experience with rigorous analysis to invest in public and private banks across the United States.

This press release includes forward-looking statements regarding the Company's plans and performance, subject to various risks and uncertainties. Readers are advised not to place undue reliance on these statements and to review the Company’s filings with the SEC for more information.
Investors and security holders are encouraged to read the forthcoming proxy statement related to the Requisite Stockholder Approvals, which will be available at the SEC's website and from First Foundation upon request. This communication does not constitute an offer to sell or a solicitation to buy any securities.

#First Foundation Inc. #Scott F. Kavanaugh #Fortress Investment Group #Canyon Partners #Strategic Value Bank Partners #North Reef Capital #Jefferies LLC #Sheppard Mullin #Skadden Arps #Cleary Gottlieb #Sullivan Cromwell

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