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Northpointe Bancshares has announced the pricing of its initial public offering of 10,420,000 shares of common stock at $14.50 per share. The offering includes 8,620,000 shares from Northpointe and 1,800,000 shares from selling shareholders. Trading is expected to begin on the New York Stock Exchange under symbol NPB on February 14, 2025.
The underwriters have a 30-day option to purchase up to 2,574 additional shares from Northpointe and 1,560,426 shares from selling shareholders. Northpointe expects to receive net proceeds of approximately $114.4 million after expenses, which will be used for general corporate purposes, including business growth and potential preferred stock redemption.
Keefe, Bruyette & Woods is acting as sole book-running manager, with Piper Sandler and Janney Montgomery Scott as co-managers.
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