First Bancorp’s recently completed $525 million capital raise will enable it to be “more aggressive” in resolving its problem loans and putting itself back on the path of profitability, research, trading and investment banking analyst firm B. Riley said Monday.
First BanCorp, parent company for FirstBank Puerto Rico announced Friday it has completed its previously announced capital raise of $525 million of common stock to institutional investors Thomas H. Lee Partners, L.P. and Oaktree Capital Management, L.P.
First BanCorp, parent company for FirstBank Puerto Rico, announced that it has received approval at the special meeting of stockholders held earlier today to issue 150 million shares of its common stock for $3.50 per share to institutional investors.
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