First Republic Bank does not have significant operations. Previously, it provided private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. The company was founded in 1985 and is headquartered in San Francisco, California.
The closing price on Friday was $3.51. The price was adjusted back there this morning and locked. That’s what you can expect to be paid IF they pay anything. PUT options will be paid the value of the option at that price. There’s no guarantee that ANYTHING will be paid, but if it is, that’s what you’ll get.
Still unsure what happens to the ones still holding Puts from Friday. One guy proudly posted his Puts that were valued at $126k on Friday at close. He expected that to double or triple at open today. Is he screwed as well? Crazy how this seems to only work in the Corporations favor on these buyouts..
Also consider whichever bidder doesn’t get it, simply loads up on cheap shares early tomorrow since they’ll know what the outcome is going to be ahead of everyone else. This is starting to sound like a GameStop scenario. Small float, shares could get scarce. Even if you have no position in it, it’s going to be interesting to watch the carnage regardless of which direction it goes in!
No announcement, stock starts running up hard, 184 million float, Shorts trying to cover, get trapped, runup like GME, stock price returns to pre-crash levels. Problem fixes itself at the expense of the hedge funds