IPOs

MetroCity Bankshares prices IPO below the range at $13.50

MetroCity Bankshares, a Georgia bank focused on serving Asian-American communities in the Eastern US and Texas, raised $26 million by offering 1.94 million shares (52% primary) at $13.50, below the range of $14.50 to $16.50. At the offer price, it commands a market cap of $342 million.

MetroCity Bankshares plans to list on the Nasdaq under the symbol MCBS. It had been listed on the OTCQX.  Keefe Bruyette Woods and Raymond James acted as lead managers on the deal.

MetroCity Bankshares prices IPO below the range at $13.50

Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)

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MCBS