09:22 AM EDT, 03/28/2024 (MT Newswires) -- Five Star Bancorp ( FSBC ) said Thursday it priced its underwritten public offering of 3.45 million shares at $21.75 per share, for expected proceeds of about $70.9 million.

Underwriters have been given a 30-day option to buy up to an additional 517,500 shares, the company said.

Net proceeds will be used for general corporate purposes and for working capital, Five Star said.

The offering is expected to close on or about April 2.

Five Star shares were falling past 6% in recent Thursday premarket activity.

Price: 22.31, Change: -1.49, Percent Change: -6.26