Spirit of Texas Bancshares, a Texas community bank with 15 branches and over $1 billion in assets, raised $42 million by offering a slightly upsized 2.0 million shares at the $21 midpoint of the $20 to $22 range. It had originally filed to offer 1.9 million shares at the same range. Spirit raised 5% more in proceeds than previously anticipated. At the offer price, the company has a market cap of $213 million.
Spirit of Texas Bancshares plans to list on the Nasdaq under the symbol STXB. Stephens Inc. and Keefe Bruyette Woods acted as lead managers on the deal.
