Warburg Pincus Files SC 13D/A for Banc of California

TL;DR

Warburg Pincus is still a major player at Banc of California, Inc. - filing updated.

AI Summary

On August 1, 2024, Warburg Pincus entities filed an SC 13D/A amendment concerning Banc of California, Inc. The filing details a group of Warburg Pincus entities, including various limited partnerships and GP entities, as beneficial owners of Banc of California, Inc. stock. No specific dollar amounts or share counts were detailed in this particular filing excerpt, but it signifies an ongoing disclosure requirement for these significant holders.

Why It Matters

This filing indicates a significant stake held by Warburg Pincus in Banc of California, Inc., which could influence the company's strategic decisions and future performance.

Risk Assessment

Risk Level: medium — Changes in significant beneficial ownership filings can signal shifts in investor strategy, potentially impacting stock price and corporate governance.

Key Players & Entities

• BANC OF CALIFORNIA, INC. (company) — Subject Company
• WARBURG PINCUS (BERMUDA) PRIVATE EQUITY GP LTD. (company) — Group Member
• WARBURG PINCUS (CALLISTO) GLOBAL GROWTH 14 (CAYMAN), L.P. (company) — Group Member
• WARBURG PINCUS FINANCIAL SECTOR II (CAYMAN), L.P. (company) — Group Member
• WP CLIPPER FS II L.P. (company) — Group Member

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $134,440,169.58 — 14 L.P., have borrowed an aggregate of $134,440,169.58 (not including any interest paid in kin

Filing Documents

• d880642dsc13da.htm (SC 13D/A) — 293KB
• 0001193125-24-191598.txt ( ) — 295KB

is hereby amended and supplemented by adding the following at the end thereof

Item 6 is hereby amended and supplemented by adding the following at the end thereof: WP Clipper GG 14 L.P. has entered into a Margin Loan Agreement dated as of July 30, 2024 (as amended from time to time, the Loan Agreement and together with any borrowing notice and each agreement or instrument delivered pursuant to the foregoing or pursuant to the security interests and collateral granted in accordance with the foregoing, including pursuant to one or more pledge and security agreements, the Margin Loan Documentation ), with the lenders party thereto (each, a Lender and collectively, the Lenders ) and HSBC Bank USA, National Association, as administrative agent and collateral agent (the Administrative Agent ). As of August 1, 2024, the borrowers under the Loan Agreement, including WP Clipper GG 14 L.P., have borrowed an aggregate of $134,440,169.58 (not including any interest paid in kind) under the Loan Agreement. Pursuant to the Loan Agreement, WP Clipper GG 14 L.P.s obligations are secured by a pledge of 11,694,581 shares of Common Stock owned by WP Clipper GG 14 L.P. (the Pledged Shares ) and such other securities and other collateral as may be pledged from time to time. The loans under the Loan Agreement mature on or about June 30, 2027. Upon the occurrence of certain events that are customary for these type of loans, the Lenders may exercise their rights to require WP Clipper GG 14 L.P. to pre-pay the loan proceeds or post additional collateral, and the Lenders may exercise their rights to foreclose on, and dispose of, the Pledged Shares and other collateral, in each case, in accordance with the Margin Loan Documentation. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: August 1, 2024 WP CLIPPER GG 14 L.P. By: /s/ Harsha Marti Name: Harsha Marti Title: Authorized Signatory WP CLIPPER FS II L.P. By: /s/ Harsha Mar

View Full Filing

View this SC 13D/A filing on SEC EDGAR