Avidbank Holdings, Inc. Announces Pricing of Initial Public Offering

About this update from Avidbank Holdings, Inc.

[{"type":"text","content":"SAN JOSE, CA / ACCESS Newswire / August 7, 2025 / Avidbank Holdings, Inc. ("Avidbank Holdings" or the "Company"), a California corporation and the bank holding company for Avidbank (the "Bank"), a California state-chartered bank, announced today the pricing of its initial public offering of 2,610,000 shares of its common stock, at a public offering price of $23.00 per share. The shares are expected to begin trading on August 8, 2025 on the Nasdaq Global Select Market under the ticker symbol "AVBH". The closing of the offering is expected to occur on August 11, 2025, subject to the satisfaction of customary closing conditions.","length":673,"tagName":"p"},{"type":"text","content":"In addition, Avidbank Holdings has granted the underwriters a 30-day option to purchase up to an additional 391,500 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.","length":225,"tagName":"p"},{"type":"text","content":"Avidbank Holdings intends to use the net proceeds from the offering to increase the capital of the Bank to support the Company's organic growth strategies, including expanding its overall market share and lending activities, strengthening regulatory capital, the potential optimization of the balance sheet, which may include repositioning a substantial portion of the available-for-sale securities portfolio, and for working capital and other general corporate purposes.","length":475,"tagName":"p"},{"type":"text","content":"Piper Sandler and Stephens Inc. are Joint Bookrunners for the offering, with D.A. Davidson & Co. acting as Lead Manager and Janney Montgomery Scott LLC as Co-manager. Manatt, Phelps & Phillips, LLP is serving as counsel to the Company and Davis Polk & Wardwell LLP is serving as counsel to the underwriters.","length":319,"tagName":"p"},{"type":"text","content":"A registration statement on Form S-1 (including a preliminary prospectus) relating to these securities was declared effective by the Securities and Exchange Commission on August 7, 2025. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registr...

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