Capital Bancorp, a community bank serving the Baltimore and Washington, DC MSAs, announced terms for its IPO on Monday.
The Rockville, MA-based company plans to raise $30 million by offering 2.2 million shares (33% insider) at a price range of $12.50 to $14.50. At the midpoint of the proposed range, Capital Bancorp would command a fully diluted market value of $185 million.
Capital Bancorp was founded in 1999 and booked $70 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol CBNK. Keefe Bruyette Woods and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
