First BanCorp in Puerto Rico said Wednesday that it had raised about $3.3 million from a rights offering.

The $13.5 billion-asset company said that it will issue more than 950,000 shares of common stock from the offering that ended on Tuesday.

The parent of FirstBank Puerto Rico is working to raise $525 million in new capital. In September, the company's shareholders approved issuing 150 million shares.

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