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Level One Bancorp sets terms for $28 million IPO


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Level One Bancorp, a Michigan-based commercial bank with $1.3 billion in assets, announced terms for its IPO on Thursday.

The Farmington Hills, MI-based company plans to raise $28 million by offering 1.0 million shares (23% insider) at a price range of $27 to $29. At the midpoint of the proposed range, Level One Bancorp would command a fully diluted market value of $211 million.

Level One Bancorp was founded in 2007 and booked $54 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol LEVL. Raymond James and Keefe Bruyette Woods are the joint bookrunners on the deal. It is expected to price during the week of April 16, 2018.

The article Level One Bancorp sets terms for $28 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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



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