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Bridgewater Bancshares prices IPO

Bridgewater Bancshares Inc. has priced its IPO at $11.75 per share, slightly above the midpoint of its expected $10.50-to-$12.50 price range.

The offering includes 4,374,513 shares for sale by Bridgewater and 2,325,487 shares for sale by certain stockholders. Sandler O'Neill & Partners LP and D.A. Davidson & Co. serve as the offering's joint book-running managers; underwriters have a 30-day option to buy up to 1,005,000 more shares.

Trading is expected to begin March 14 on the Nasdaq Capital Market. The ticker symbol is BWB.

The offering is expected to close March 16.

Bridgewater Bancshares is the Bloomington, Minn.-based holding company of Bridgewater Bank, which had $1.61 billion in assets at the end of 2017.