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.
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