Esquire Financial Holdings, a commercial bank providing attorney-related loans with over $400 million in assets, announced terms for its IPO on Monday.
The Jericho, NY-based company plans to raise $38 million by offering 2.6 million shares (30% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Esquire Financial Holdings would command a fully diluted market value of $106 million.
Esquire Financial Holdings was founded in 2006 and booked $16 million in revenue for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol ESQ. Sandler O'Neill is the sole bookrunner on the deal. It is expected to price during the week of June 26, 2017.
