Coastal Community Bank: Major Success on First Day at Exchange

Bonnie Johnson - Thursday, July 19, 2018
Coastal Community Bank: Major Success on First Day at Exchange


Coastal Community Bank came out swingin' during it's Initial Public Offering. According to Nasdaq, CCB "raised $41 million by offering 2.85 million shares at $14.50, toward the high end of the $13 to $15 range. It had planned to raise $38 million by offering 2.72 million shares..." 21% of shares sold were secondary.

Below is the press release from CCB, released just before the IPO.

Coastal Financial Corporation (“Coastal”), the bank holding company for Coastal Community Bank, today announced the pricing of its initial public offering of 2,850,000 shares of its common stock at a public offering price of $14.50 per share. The offering was upsized from the previously announced offering size of 2,720,000 shares of common stock. Of the offered shares, 2,150,000 shares are being offered by Coastal and 700,000 are being offered by a selling shareholder.

Coastal has granted the underwriters a 30-day option to purchase up to an additional 427,500 shares of its common stock. Coastal’s common stock is expected to begin trading on the Nasdaq Global Select Market under the trading symbol “CCB” on Wednesday, July 18, 2018.

Coastal intends to use the net proceeds from the offering to support its growth, organically or through mergers and acquisitions, and for general corporate purposes, which may include the repayment or refinancing of debt and maintenance of required regulatory capital levels. Coastal will not receive any proceeds from the sale of shares of common stock by the selling shareholder in the offering. Keefe, Bruyette & Woods, A Stifel Company, and Hovde Group, LLC are acting as joint bookrunning managers for the offering. The offering is being made only by means of a prospectus.

Copies of the prospectus relating to the offering may be obtained from Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, or by calling (800) 966-1559, or from Hovde Group, LLC, 120 W Madison Street, Suite 1200, Chicago, IL 60602 or by calling (866) 971-0961. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on July 17, 2018.




Everett Gym USS Sampson Startup Silver Lake, Washington Washington State University Elders Boating Paws With Cause Mayor Cassie Franklin rodeo Bayside Bikes Batman Carl Gibson Senior Center Marysville Snohomish Marysville Getchell country music Rotary of Arlington Arlington Sky Valley wildlife Marvel Smoke alarms USS Ralph Johnson Highway 2 Trestle Olympics Everett Historic Theatre Arts ronald mcdonald house Legion Legion Park Everett Jets FC Granite Falls Everett Naval Base Students Everett High School ChildStrive Lake Stevens Grand Opening Edmonds Lakewood Mount Vernon community Everett PD Recruitment Legion Bluff Navy Tankfest Everett Library biking Boating Season Rotary of Port Pardner Broadway Snohomish County News Beer and wine fire Jacob Hilkin Glacier Peak DUI Show Ellensburg rodeo Maury Eskenazi Coastal Community Bank IPO Casino Road Initiative Kla Ha Ya Days Harry Potter WSDOT Bethany racing skagit Interview Jim Creek Nathan Senff Memorial Day Kayla Lemmon Everett Transit Cassie Franklin Rotary of Port Gardner Flying Heritage Gabe Maggio Girls on the Run Snohomish Marysville Pilchuck Funko WW2 Dagmar's Marina Nascar Lowell Archery Paine Field USO Stanwood Health DC Team USA KRKO Lynnwood Everett Fire Department Habitat for Humanity Everett News La Conner Compass Health Building Communities of Hope Snohomish County PUD Skagit County News Marysville Fire Department Darrington Boeing soccer Lineup Cascade Bicycle Club auction Everett Police Department Weather polygraph Pioneer Place Ferndale Everett Metro Plan Everett Community College Rucker band Tim Hunter Ana Perdomo Leonard J. Martin Monte Cristo History Jet City Monroe Paine Field Aviation Day Popcorn in the Park JJ Harrison