CBTX, a commercial bank with locations throughout Southeast Texas, announced terms for its IPO on Monday.
The Beaumont , TX-based company plans to raise $60 million by offering 2.4 million shares at a price range of $24 to $26. At the midpoint of the proposed range, CBTX would command a fully diluted market value of $619 million.
CBTX was founded in 2007 and booked $119 million in revenue for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol CBTX. Stephens Inc. and Keefe Bruyette Woods are the joint bookrunners on the deal. It is expected to price during the week of November 6, 2017.
