BayCom, a California bank with 17 full-service branches and over $1.2 billion in assets, has priced its Nasdaq IPO ahead of Friday trading.
The company raised $63 million by offering 2.85 million shares at $22, within the range of $21 to $23. It originally planned to raise $50 million by offering 2.27 million shares. At $22, BayCom commands a market value of $228 million.
BayCom, which operates under the brand United Business Bank, had been thinly traded on the OTC (ticker: BCML), finishing Thursday at $22.15.
BayCom plans to list on the Nasdaq under the symbol BCML. FIG Partners and D.A. Davidson acted as lead managers on the deal.
