Bank7, an Oklahoma City-based bank with seven branches in OK, TX and KS, raised $65 million by offering 3.4 million shares at $19, within the range of $18 to $21. Insiders sold 15% of the deal, as expected.
The company priced $0.50 below the midpoint and sold 75,000 more shares than it planned. As a result, the deal size remains unchanged, but its fully diluted market value at IPO is $197 million, down from $200 million.
Bank7 plans to list on the Nasdaq under the symbol BSVN. Keefe Bruyette Woods and Stephens Inc. acted as lead managers on the deal.
