Markets

Midland States prices downsized IPO at $22, the low end of the revised range

Midland States Bancorp, a Midwestern bank with 81 locations and $2.9 billion in assets, raised $80 million by offering 3.6 million shares (16% from insiders) at $22, the low end of the revised range of $22 to $24. The company had originally planned to sell 3.9 million shares at $25 to $27 before lowering the range yesterday. The reduced deal size was a result of a 28% decrease in the number of shares offered by insiders. Midland States Bancorp plans to list on the Nasdaq under the symbol MSBI. Sandler O'Neill and Keefe Bruyette Woods acted as lead managers on the deal.

The article Midland States prices downsized IPO at $22, the low end of the revised range 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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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