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Monday, November 27, 2023

Equity Corporate Actions Alert #2023 - 681
(UPDATED: Merger closed) Information Regarding the Merger of PacWest Bancorp (PACW & PACWP)

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  • Industry Announcement

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At a special meeting held on November 22, 2023, the shareholders of PacWest Bancorp (PACW & PACWP) approved the merger with Banc of California, Inc. (BANC). The merger closed today, November 30, 2023. The details are as follows:

Company Name & Issue Type: PacWest Bancorp Common Stock
CUSIP#: 695263103
Symbol: PACW
Last Trading Date: November 30, 2023
Marketplace Effective Date for Suspension: December 1, 2023
Merger Consideration: 0.6569 of a share of Banc of California, Inc. Common Stock (BANC) for each share held.
Company Name & Issue Type: PacWest Bancorp Depositary Shares Each Representing a 1/40th Interest in a Share of 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
CUSIP#: 695263202
Symbol: PACWP
Last Trading Date: November 30, 2023
Marketplace Effective Date for Suspension: December 1, 2023
Merger Consideration: One (1) newly created Banc of California, Inc. Depositary Shares Each Representing a 1/40th Interest in a Share of 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A for each share held.

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