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MetroCity Bankshares prices IPO

MetroCity Bankshares Inc. priced its IPO of 1,939,000 common shares at a price to the public of $13.50 per share.

The Doraville, Ga.-based company is offering 1 million shares, and the selling shareholders are offering 939,000 shares. MetroCity Bankshares granted the underwriters a 30-day option to purchase up to 290,850 additional common shares at the IPO price, less underwriting discounts.

The offering is expected to close Oct. 7. The shares are expected to begin trading on the Nasdaq Global Select Market on Oct. 3 under the ticker symbol MCBS.

Keefe Bruyette & Woods and Raymond James & Associates Inc. are joint book-running managers for the offering. Hovde Group LLC is co-manager.