PacWest Bancorp (PACW)

Bad and Lazy DD you are posting here .

PacWest, Banc of CA Merger Approved

DECEMBER 4, 2023

Four months after PacWest Bancorp and Banc of California Inc. announced their intent to merge under the Banc of California banner, the transaction officially closed on Nov. 30 following both shareholder and regulatory approval.

[....]

Source:
https://labusinessjournal.com/featured/pacwest-banc-of-ca-merger-approved/

Warburg Pincus and Centerbridge are providing funds to fill a capital ratio hole created by mark-to-market accounting.

They are paying $12.30 per BANC share (or about $8.14 per PACW share on an exchanged basis).

PACW will most likely trade at a small discount to BANC.

BANC could trade as high as $18 per shares next year based on $1.80 in EPS and 10x PE ratio.

PACWP is attractive particularly for lower risk investors.

The price should gradually move closer to par as the closing date nears.

Dividends are equal to (i) 7.75% through 9/01/27 or the date of earlier redemption and (ii) from, and including, the first reset date, during each reset period, a rate per annum equal to the five-year treasury rate as of the most recent reset dividend determination date plus 4.82%.

Shares are redeemable 9/01/27.

https://www.sec.gov/Archives/edgar/data/1102112/000110465922067778/tm228951-2_424b5.htm

I have a position in PACWP.

Marker:

PACWP

$19.15 -0.19 (-1.0%)
Volume: 30,952

Another Bank goes down..Heartland Tri-State Bank in Kansas has been forced to halt operations by regulators after it became insolvent, marking it the fifth bank to collapse in the United States this year. After determining that the bank, which had its headquarters in Elkhart, had fallen insolvent, Kansas Bank Commissioner David Herndon appointed the Federal Deposit Insurance Corporation (FDIC) as a receiver. After that, the FDIC sold it to Dream First Bank.

Heartland Tri-State Bank to resume operations under FDIC

100 X .6569 = 65 shares of BANC, with .69 share should be paid in cash

Can anyone please tell me if I hold 100 PACW stock now, then post-merger how much stock I’ll get? Thanks in advance.

I'm all out also..

Thanks, I did just that. I'm out. Bought at 7.17 sold at 10. Good luck everyone!

Take your gains and run is the game now as dilution hits next.. Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge

9.60 was based on Tuesday Close, then PACW will get 65 cents/share

https://www.marketwatch.com/story/banc-of-california-in-talks-to-buy-pacwest-wsj-b6c1cff1?mod=mw_quote_news

I think the closing price of BANC was closer to 14.6192 because trading appeared to be halted at the close. Also trading appeared halted on PACW

"Under the terms of the merger agreement, PacWest (PACW) stockholders will receive 0.6569 of a share of Banc of California (BANC) common stock for each share of PacWest common stock. Based on closing prices on Tuesday, the deal values PacWest at $9.60 a share, a premium over its closing price of $7.67 a share on Tuesday."

9.60/share +. 65/share = 10.25

https://www.tradingview.com/news/DJN_SN20230725014332:0/

Disregard I found the answer

https://www.tradingview.com/news/DJN_SN20230725014332:0/

15.89 x .6569 = 10.43$ a share am I wrong? From What I read we will get .6569 of a share of BANC RIGHT? So if the stock stays over that price is all good.

how did you come up with the math

If banc stocks stays over the current price We will make money. Right now .6569 of a share is 10.30$. I am going to hold and see but if I am correct I will not lose on this.

Anyone opinion about the Quarterly and Merger?

Congrats to those that held and didn't get shooked out.

11.21 TO 7.67 11 MINUTES LATER


CLOSED 7.69 THEN RUNS TO 10.49 AH

THIS JUST GOES TO SHOW HOW REALLY CRAZY THESE MARKETS ARE

$PACW

Well the smaller banks all need to merge or they are done financially . So shall see more mergers coming up for sure.

Marker:

PACWP
$21.00 3.55 (20.3%)

*Commons we're never the play on PacWest Bank.. Preferred shares are up 3X from March lows.

sold, not bought...

PacWest stockholders will receive 0.6569 of a share of Banc of California common stock for each share of PacWest common stock.

You bought PACW at 11? Now it's 7.73

Halted pending news and Earnings Releast late Tuesday. Merger is on progress bet PACW and BANC.

And it's gone....

It looks like trading was halted a BANC, but what do I know!

that was only one block. I've been in PACW since middle of May..

I'll toss and turn tonight trying to sleep!

Glad to hear you came out OK. The fact that your shares were bought at that price is encouraging.

I had an AON at $11.05 and it got taken. looks like turned out to be good thing for me!

looking like Bank of California maybe buying them out..

First there was a dump of 2 million shares. Been long on Pac West for some time and really not going to sell into the hysteria of what will or will not be. That being said, Pac West sure does know how to screw its shareholders. to have this kind of announcement a couple of hours before an earnings report is pathetic. They could have announced this last Friday.

Hopefully the trade works for you.

Not sure if I made the right decision, but I held. My average is 7.17.

Dip and Rip!????

I'm hoping that jump to 11.21 was a good sign of maybe a considered offer, but the selling is troubling. Panic selling?

Lots of uncertainty - thus the volatility. I put my limit order in at $9.80 and it took awhile but they eventually went up and grabbed my shares - then retreated again

I just read that news. Obviously, I hope it comes back. There's still a lot of buying though!

down 27% and halted on buyout news.

[edit update] I exited with an .11 cent loss per share. Had another bank that got a buyout/buydown which was my first experience in a stock/company getting bought out for LESS than what is was trading for. Not saying thats what will happen here - but Shit happens.

Did this jump to 11.21 then back down to 9.44 within a minute? Was trading halted?

Looking good broke previous resistance level on low $10s can start moving to $20s next virtually nonresistance on the way to $20

FILLED 9.87 FOR A BOUNCE TRADE 10.49 WAS HOD

PACW all over the place this morn

Resistance was right above $10 and will fail as support. Natural pullback coming to markets in general. Need to cool down some. Then of course companies only making earnings because the fake earnings bar was reset so ridiculously low. Wall Street at its finest will trap bulls also.

Should be able to ride this puppy to $17 plus. I have a GTC order to sell in a $19+

Relax, let the market do the heavy lifting. I'm looking at two very bullish indicators.

Buy high --- and sell higher

My bank pays 5.5%. Get lost with your .02

$10 resistance don’t break then perhaps start taking profits

wow

not much I can say, cept PACW is a sweet one!