Florida bank C1 Financial sets terms for $50 million IPO

Comment

Shutterstock photo

C1 Financial, a Florida commercial bank with 29 locations and $1.4 billion in assets, announced terms for its IPO on Thursday. The St. Petersburg, FL-based company plans to raise $50 million by offering 2.6 million shares at a price range of $18 to $20. At the midpoint of the proposed range, C1 Financial would command a fully diluted market value of $303 million.

C1 Financial, which was founded in 1995 and booked $75 million in sales for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol BNK. Keefe Bruyette Woods and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of August 11, 2014.

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



This article appears in: News Headlines , IPOs


More from Renaissance Capital

Subscribe






Renaissance Capital
Contributor:

Renaissance Capital

IPOs
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com