MetroCity Bankshares, a Georgia bank with 19 full-service branches in the Eastern US and Texas, filed on Wednesday with the SEC to raise up to $40 million in an initial public offering. The company's shares are currently listed on the OTC (MCBS), with as-converted last close of $28.
The Doraville, GA-based company was founded in 2006 and booked $97 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol MCBS. MetroCity Bankshares filed confidentially on August 2, 2019. Keefe Bruyette Woods, Raymond James and Hovde Group are the joint bookrunners on the deal. No pricing terms were disclosed.
