Chain Bridge Bancorp, Inc. Announces Pricing of Initial Public Offering [Yahoo! Finance]
Piper Sandler Companies (PIPR)
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Source: Yahoo! Finance
for Chain Bridge Bank, National Association, today announced the pricing of its initial public offering of 1,850,000 shares of its Class A common stock at a public offering price of per share. The shares are expected to begin trading on October 4, 2024 on the New York Stock Exchange under the ticker symbol "CBNA". The closing of the offering is expected to occur on October 7, 2024 , subject to the satisfaction of customary closing conditions. In addition, Chain Bridge has granted the underwriters a 30-day option to purchase up to an additional 277,500 shares of its Class A common stock at the initial public offering price, less underwriting discounts. Chain Bridge intends to use the net proceeds from the offering primarily for general corporate purposes (which may include supporting continued organic deposit growth and funding potential strategic expansion) and to repay the $10 million outstanding principal balance under its unsecured line of credit. Piper Sandler & Co. is actin
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