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Maryland-based Capital Bancorp sets terms for $30 million IPO

Capital Bancorp, a community bank serving the Baltimore and Washington, DC MSAs, announced terms for its IPO on Monday.

The Rockville, MA-based company plans to raise $30 million by offering 2.2 million shares (33% insider) at a price range of $12.50 to $14.50. At the midpoint of the proposed range, Capital Bancorp would command a fully diluted market value of $185 million.

Capital Bancorp was founded in 1999 and booked $70 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol CBNK. Keefe Bruyette Woods and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.

The article Maryland-based Capital Bancorp sets terms for $30 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.


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

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