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Deals Of The Day: The Latest In Wealth Management M&A – Raymond James, TriState

Editorial Staff

12 June 2024

Raymond James, TriState Capital Holdings 
Florida-based Raymond James has completed its previously announced purchase of TriState Capital Holdings.

The cash and stock transaction was, as stated in the initial announcement in October last year, valued at about $1.1 billion.

In the deal, each share of TriState Capital common stock was converted into the right to receive $6.00 in cash and 0.25 shares of Raymond James common stock, which represents per share consideration of $30.62 based on the closing price of Raymond James common stock on May 31, 2022. 

Shares of TriState Capital ceased trading after the closing of the NASDAQ stock market on May 31, 2022, Raymond James said in a statement yesterday. 

“The strategic and cultural fit between Raymond James and TriState has been continually reinforced as our teams have worked toward this point over the last few months,” Raymond James chair and CEO Paul Reilly, said.