Kansas bank CrossFirst Bankshares sets terms for $114 million IPO
CrossFirst Bankshares, a Kansas bank with seven full-service locations across four states, announced terms for its IPO on Monday.
The Leawood, KS-based company plans to raise $114 million by offering 7.1 million shares (19% insider) at a price range of $15 to $17. At the midpoint of the proposed range, CrossFirst Bankshares would command a fully diluted market value of $840 million.
CrossFirst Bankshares was founded in 2008 and booked $135 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol CFB. Keefe Bruyette Woods, Raymond James, and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of August 12, 2019.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)
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