Northpointe Bancshares Inc, the bank holding company for Northpointe Bank, said on Thursday that it had priced its initial public offering of 10,420,000 shares of its common stock at a price to the public of $14.50 per share.
The net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be about $114.4 million.
The company’s common stock is expected to be listed on the New York Stock Exchange under the ticker symbol “NPB” on February 14th.
Keefe, Bruyette & Woods Inc is serving as sole book-running manager for the offering, which is expected to close on February 18th. Piper Sandler and Janney Montgomery Scott LLC are serving as co-managers.
The underwriters have been granted a 30-day option to buy up to 2,574 additional shares of common stock from Northpointe and 1,560,426 additional shares of common stock from the selling shareholders at the IPO price less underwriting discounts and commissions.
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