First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and the British Virgin Islands and Florida, and of FirstBank Insurance Agency. Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Corp. and First Express, both small loan companies, and FirstBank Puerto Rico Securities, a broker-dealer subsidiary. First BanCorp's shares of common stock trade on the New York Stock Exchange under the symbol FBP.
First BanCorp. (the "Corporation") (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that certain stockholders have commenced a public underwritten offering of an aggregate of 20 million shares of the Corporation's common stock, $0.10 par value per share (the "Common Stock"), that they currently own. Funds affiliated with Thomas H. Lee Partners, L.P. ("THL") are offering to sell 10 million shares of Common Stock; and funds managed by Oaktree Capital Management, L.P. ("Oaktree") are offering to sell 10 million shares of Common Stock. In connection with the offering, THL and Oaktree have also granted the underwriter an option to purchase up to an additional 3 million shares of Common Stock. The Corporation will not receive any of the proceeds from the offering. Goldman Sachs & Co. LLC will act as sole book-running manager for the Common Stock offering. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus supplement together with the accompanying prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone:(866) 471-2526, facsimile: 212-902-9316, e-mail: email@example.com. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, shares of Common Stock in any jurisdiction in which such an offer or solicitation, or the sale of shares of Common Stock, would be unlawful without registration or qualification under the securities laws of such jurisdiction. Any offer to sell, or solicitation of an offer to buy, will be made solely by means of a prospectus and related prospectus supplement filed with the Securities and Exchange Commission ("SEC"). A shelf registration statement related to the offering was filed with the SEC and became effective February 29, 2016. About First BanCorp.