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Amalgamated Bank prices IPO

New York-based Amalgamated Bank priced its IPO of 6,718,729 shares of class A common stock at a public offering price of $15.50 per share.

The underwriters have a 30-day option to purchase up to an additional 1,007,809 shares.

All of the shares in the offering are to be sold by the selling stockholders.

The company will not receive any proceeds from the offering.

The shares will begin trading on Aug. 9 on the Nasdaq Global Market under the symbol AMAL.

The offering is expected to close on or about Aug. 13.

Barclays, J.P. Morgan, and Keefe Bruyette & Woods are acting as joint book-running managers for the offering, while Piper Jaffray & Co., Raymond James & Associates Inc., and Sandler O'Neill & Partners LP are acting as co-managers.