DENVER, Colo. — July 9, 2018 — First Western Financial, Inc., a financial holding company headquartered in Denver, Colorado (“First Western”), announced today the launch of its initial public offering of shares of its common stock. First Western intends to offer 1,500,527 shares of its common stock and certain non-insider selling shareholders of First Western intend to offer an aggregate 349,473 shares of First Western common stock. First Western also expects to grant the underwriters a 30-day option to purchase up to an additional 277,500 shares of its common stock. The initial public offering price is currently expected to be between $19.00 and $21.00 per share. In connection with the initial public offering, First Western intends to list its common stock on NASDAQ Global Select Market under the trading symbol “MYFW.”
First Western intends to use the net proceeds from the offering and available cash on hand or borrowings under its existing credit facility to redeem all of the outstanding shares of its preferred stock and all of its subordinated notes due 2020. First Western may also use any net proceeds to support its organic growth and for general corporate purposes, including maintenance of its required regulatory capital. First Western will not receive any proceeds from the sale of shares of common stock by the selling shareholders.
Keefe, Bruyette & Woods, A Stifel Company, and Stephens Inc. are acting as joint book-running managers for this offering. Sandler O’Neill + Partners, L.P. is acting as co-manager.
This offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling toll-free 1-800-966-1559 or Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attention: Syndicate, or by calling toll-free 1-800-643-9691.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About First Western Financial, Inc.
First Western is a financial holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, and California. First Western Financial, Inc. and its subsidiaries provide a fully integrated suite of wealth management services on a private trust bank platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and investment management products and services.
Scott C. Wylie
Chairman, Chief Executive Officer, and President
Julie A. Courkamp
Chief Financial Officer