Bridgewater Bancshares, Inc., (Nasdaq: BWB) has completed its initial public offering, with D.A. Davidson & Co. acting as a joint book-running manager.
In the offering, Bridgewater sold 5,379,513 shares, including 1.005 million shares of common stock sold pursuant to the exercise in full by the underwriters of the option to purchase additional shares, at an IPO price of $11.75 per share. The IPO resulted in net proceeds to Bridgewater of $58.4 million after deducting underwriting discounts and commissions and estimated offering expenses. The selling shareholders sold an additional 2,325,487 shares of common stock in the offering at the initial IPO price.
The shares began trading under the symbol “BWB” on the Nasdaq Capital Market on Wednesday, March 14, 2018.
Full details regarding the IPO can be found here.