trending Market Intelligence /marketintelligence/en/news-insights/trending/MAxB-IbzY-ktVuSJ3awmyA2 content esgSubNav
In This List

MetroCity Bankshares commences IPO

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


MetroCity Bankshares commences IPO

MetroCity Bankshares Inc. launched its IPO, offering 1.0 million common shares with an expected offering price of between $14.50 and $16.50 apiece.

The Doraville, Ga.-based community bank granted underwriters a 30-day option to purchase up to an additional 290,850 common shares. Certain stockholders are selling 939,000 shares in the IPO.

Including a full exercise of the underwriters' option and the sale of the stockholders' shares, the offering represents maximum gross proceeds of $36.8 million based on the maximum share price.

Keefe Bruyette & Woods and Raymond James & Associates Inc. are joint book-running managers of the IPO, while Hovde Group LLC is the co-manager.