Northpointe Bancshares, Inc. announced the pricing of its initial public offering of 10,420,000 shares of common stock at $14.50 per share. This includes 8,620,000 shares offered by Northpointe and 1,800,000 shares by selling shareholders.
The company expects to receive net proceeds of approximately $114.4 million from its portion of the offering, after deducting underwriting discounts and estimated expenses. These proceeds are designated for general corporate purposes, including growing existing lines of business or redeeming preferred stock.
Northpointe's common stock is anticipated to begin trading on the New York Stock Exchange under the ticker symbol 'NPB' on February 14, 2025. The offering is expected to officially close on February 18, 2025, subject to customary closing conditions.
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