Forbright Raises $142 Million in IPO at $18 per Share
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Source: renaissancecapital
- Capital Raised: Forbright successfully raised $142 million by offering 7.9 million shares at $18 each, which is at the lower end of the $18 to $20 range, providing the company with ample funds to support future business expansion.
- Business Overview: As a digital-first bank specializing in middle-market commercial lending, Forbright offers a diverse financial services platform that includes nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services, showcasing its competitive edge in the financial sector.
- Stock Exchange Listing: Headquartered in Chevy Chase, MD, Forbright will trade on the Nasdaq under the ticker symbol FRBT, which is expected to enhance its market visibility and attract more investor interest.
- Underwriting Team: The deal was backed by a strong consortium of underwriters including Goldman Sachs, J.P. Morgan, Barclays, Wells Fargo Securities, Piper Sandler, TD Securities, and Santander, reflecting significant market confidence and support for Forbright.
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Analyst Views on FRBT
Wall Street analysts forecast FRBT stock price to rise
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Current: 18.000
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Current: 18.000
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Forbright Raises $142 Million in IPO at $18 per Share
- Capital Raised: Forbright successfully raised $142 million by offering 7.9 million shares at $18 each, which is at the lower end of the $18 to $20 range, providing the company with ample funds to support future business expansion.
- Business Overview: As a digital-first bank specializing in middle-market commercial lending, Forbright offers a diverse financial services platform that includes nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services, showcasing its competitive edge in the financial sector.
- Stock Exchange Listing: Headquartered in Chevy Chase, MD, Forbright will trade on the Nasdaq under the ticker symbol FRBT, which is expected to enhance its market visibility and attract more investor interest.
- Underwriting Team: The deal was backed by a strong consortium of underwriters including Goldman Sachs, J.P. Morgan, Barclays, Wells Fargo Securities, Piper Sandler, TD Securities, and Santander, reflecting significant market confidence and support for Forbright.
See More
Forbright Raises $142 Million in IPO at $18 per Share
- Capital Raised: Forbright successfully raised $142 million by offering 7.9 million shares at $18 each, which is at the lower end of the $18 to $20 range, providing the company with ample funds to support future business expansion.
- Business Overview: As a digital-first bank specializing in middle-market commercial lending, Forbright offers a diverse financial services platform that includes nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services, showcasing its competitive edge in the financial sector.
- Stock Exchange Listing: Headquartered in Chevy Chase, MD, Forbright will trade on the Nasdaq under the ticker symbol FRBT, which is expected to enhance its market visibility and attract more investor interest.
- Underwriting Team: The deal was backed by a strong consortium of underwriters including Goldman Sachs, J.P. Morgan, Barclays, Wells Fargo Securities, Piper Sandler, TD Securities, and Santander, reflecting significant market confidence and support for Forbright.
See More
