NEWS
First Foundation Inc. Closes $228 Million Equity Investment Anchored by Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, and North Reef Capital
First Foundation Inc. (NYSE: FFWM) has closed a $228 million equity investment involving Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, North Reef Capital, and other investors. The investment includes the issuance of 11,308,676 common shares at $4.10 each, alongside Series A and B Noncumulative Convertible Preferred Stock. Investors also received seven-year warrants for Series C Non-Voting Common Equivalent Stock. The investment is aimed at enhancing the company’s efforts to build a top-tier regional bank and long-term shareholder value. As of March 31, 2024, First Foundation has assets worth $13.6 billion, $10.1 billion in loans, $10.6 billion in deposits, and $929 million in total stockholders' equity.
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