Avidbank set for Nasdaq debut after $60 million IPO
ReutersAug 8, 2025 10:37 AM
California-based Avidbank AVBH.O set to begin trading on the Nasdaq under ticker symbol "AVBH" on Friday
AVBH late Thursday sold 2.6 million shares at $23 apiece - the midpoint of its marketed range of $22 and $24 - in its IPO for gross proceeds of $60 million
Proceeds will be used for general purposes, including a potential repositioning of its bond portfolio
Piper Sandler and Stephens were the joint bookrunners for the offering
Prior to the offering, AVBH traded on the Pink Open Market operated by the OTC Markets Group
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