IPOs
By The Online Investor Staff, updated Mon., Nov. 29, 7:19 PM
| This Slide: #3 of 15 |
Slide #3. FinWise Bancorp — Initial Public Offering
Company:
FinWise Bancorp
Proposed Symbol:
FINW
Shares Offered:
3,500,000
Price Per Share:
$10.50
Over-Allotment:
525,000
Description:
FinWise Bancorp ("FinWise" or the "Company"), parent company of FinWise Bank (the "Bank"), today announced the pricing of its initial public offering of 3,500,000 shares of its common stock at a public offering price of $10.50 per share. The offering is expected to result in gross proceeds to the Company of approximately $36.8 million. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $31.0 million. The shares are expected to begin trading on November 19, 2021 on the Nasdaq Global Market under the symbol "FINW." The offering is expected to close on or about November 23, 2021, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from the Company at the initial public offering price, less the underwriting discount. If the underwriters' option is exercised in full, it is expected to result in additional net proceeds of approximately $5.1 million after deducting the underwriting discount and estimated offering expenses.
