FVCBankcorp, a community bank serving Washington, D.C. and Northern Virginia, announced terms for its Nasdaq IPO on Friday. The company is currently listed on the OTCQX under the symbol FVCB.
The Fairfax, VA-based company plans to raise $35 million by offering 1.75 million shares at a price range of $19 to $21. At the midpoint of the proposed range, FVCBankcorp would command a market value of $257 million.
FVCBankcorp was founded in 2007 and booked $37 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol FVCB. Sandler O'Neill and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of September 10, 2018.
