BayCom, a California bank with 17 full-service branches and over $1.2 billion in assets, announced terms for its IPO on Friday.
The Walnut Creek, CA-based company plans to raise $50 million by offering 2.3 million shares at a price range of $21 to $23. At the midpoint of the proposed range, BayCom would command a market value of $215 million.
BayCom was founded in 2004 and booked $45 million in revenue for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol BCML. FIG Partners and D.A. Davidson are the joint bookrunners on the deal. It is expected to price during the week of April 30, 2018.
