Banc of California announces $50M common stock and $50M tangible equity offering BofA Merrill Lynch is acting as book-running manager for the offerings. Wachtell, Lipton, Rosen & Katz is serving as outside legal counsel to the Company.
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PL Capital raises stake in Banc of California to 7.9% from 7.5% The PL Capital Group has significant concerns and questions about the companyís corporate governance, operating performance, financial projections and compensation plans. PL Capital Groupís intent is to engage in a dialogue with the management and board of the company to address these concerns and questions. If needed, the PL Capital Group will assert its stockholder rights.