Bridgewater Bancshares, a Minnesota-based bank with six branches and $1.6 billion in assets, announced terms for its IPO on Monday.
The Bloomington, MN-based company plans to raise $77 million by offering 6.7 million shares (35% insider) at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Bridgewater Bancshares would command a fully diluted market value of $344 million.
Bridgewater Bancshares was founded in 2005 and booked $57 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol BWB. Sandler O'Neill and D.A. Davidson are the joint bookrunners on the deal. It is expected to price during the week of March 12, 2018.
The article Twin Cities bank Bridgewater Bancshares sets terms for $77 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, 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.
