Capital Bancorp, a community bank serving the Baltimore and Washington, DC MSAs, raised $28 million by offering 2.2 million shares (33% secondary) at $12.50, the low end of the range of $12.50 to $14.50.
At IPO, it commands a market value of $170 million. Capital Bancorp plans to list on the Nasdaq under the symbol CBNK. Keefe Bruyette Woods and Stephens Inc. acted as lead managers on the deal.
