Business
Avidbank Holdings, Inc. Announces Successful Completion Of $28.6 Million Private Offering
SAN JOSE, CA / ACCESSWIRE / May 11, 2022 / Avidbank Holdings, Inc. (OTC Pink:AVBH), the parent company of Avidbank, today reported the successful completion
About this update from Avidbank Holdings, Inc.
[{"type":"text","content":"SAN JOSE, CA / ACCESSWIRE / May 11, 2022 / Avidbank Holdings, Inc. (OTC Pink:AVBH), the parent company of Avidbank, today reported the successful completion of a $28.6 million private offering of common shares at a purchase price of $22.50 per share.Mark D. Mordell, Chairman and CEO of Avidbank Holdings, Inc. stated, \"We believe the successful completion of this offering is a significant step forward for our Company, providing the capital we need to continue our growth.\"\"I want to thank our investors who participated in the offering,\" Mr. Mordell added. \"This support, along with the continued commitment and investment by our Board of Directors and company management will allow us to continue to build a great foundation for the execution of our strategic plan. I appreciate the confidence from our stakeholders in the future of our company.\"Piper Sandler & Co. acted as financial advisor for Avidbank Holdings in connection with the offering. Manatt, Phelps & Phillips, LLP, San Francisco, CA acted as legal counsel to Avidbank Holdings. The securities referenced in this press release have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold absent registration or an exemption from registration under applicable law. Such securities have not been approved or disapproved by the Securities and Exchange Commission, any state securities commission or any regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering or sale of these securities. Any representation to the contrary is a criminal offense.Contact:Patrick Oakes, Chief Financial Officer(408) 831-5653www.avidbank.comAbout AvidbankAvidbank Holdings, Inc. (OTC Pink:AVBH), headquartered in Palo Alto, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, technology and asset-based lending, specialty finance, real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.Note Regarding Forward Looking StatementsThis news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not r...