Capital Bancorp (CBNK) IPO Opens Modestly Higher
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Today's IPO for Capital Bancorp (NASDAQ: CBNK) opened for trading at $13.00 after pricing 2,228,736 shares of its common stock at a public offering price of $12.50 per share.
Of the offered shares, 1,500,000 shares are being offered by Capital and 728,736 shares are being offered by selling shareholders.
Capital has granted the underwriters a 30-day option to purchase up to an additional 334,310 shares of its common stock.
Keefe, Bruyette & Woods, A Stifel Company, and Stephens Inc. are acting as joint book-running managers for the offering. Sandler O'Neill + Partners, L.P. and Hovde Group, LLC are acting as co-managers for the offering.
Capital Bancorp is the bank holding company for Capital Bank, National Association.
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