Commercial bank Square 1 Financial sets terms for $94 million IPO

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Square 1 Financial, which provides commercial banking services to venture firms, announced terms for its IPO on Friday. The Durham, NC-based company plans to raise $94 million by offering 5.9 million shares at a price range of $15 to $17. At the midpoint of the proposed range, it would command a fully diluted market value of $465 million. Square 1 Financial, which was founded in 2005 and booked $102 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol SQBK. Square 1 Financial initially filed confidentially on November 26. Sandler O'Neill and Keefe Bruyette Woods are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: SQBK

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