First Western Financial, a Denver, CO-based bank and wealth manager for high net worth individuals, announced terms for its IPO on Monday.
The Denver, CO-based company plans to raise $37 million by offering 1.9 million shares (19% insider) at a price range of $19 to $21. At the midpoint of the proposed range, First Western Financial would command a fully diluted market value of $153 million.
First Western Financial was founded in 2002 and booked $58 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol MYFW. Keefe Bruyette Woods and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of July 16, 2018.
