MCLEAN,
Va., Oct. 3, 2024 /PRNewswire/ -- Chain
Bridge Bancorp, Inc. ("Chain Bridge"), the bank holding company for
Chain Bridge Bank, National Association, today announced the
pricing of its initial public offering of 1,850,000 shares of its
Class A common stock at a public offering price of $22.00 per share. The shares are expected to
begin trading on October 4, 2024 on
the New York Stock Exchange under the ticker symbol "CBNA". The
closing of the offering is expected to occur on October 7, 2024, subject to the satisfaction of
customary closing conditions.
In addition, Chain Bridge has granted the underwriters a 30-day
option to purchase up to an additional 277,500 shares of its Class
A common stock at the initial public offering price, less
underwriting discounts.
Chain Bridge intends to use the net proceeds from the offering
primarily for general corporate purposes (which may include
supporting continued organic deposit growth and funding potential
strategic expansion) and to repay the $10
million outstanding principal balance under its unsecured
line of credit.
Piper Sandler & Co. is acting
as lead book-running manager for the offering. Raymond James
& Associates, Inc. and Hovde Group, LLC are also acting as
book-running managers.
A registration statement on Form S-1 (including a preliminary
prospectus) relating to these securities was declared
effective by the Securities and Exchange Commission on October 3, 2024. This press release does not
constitute an offer to sell, or the solicitation of an offer to
buy, any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering has been made only by means of a prospectus. Copies
of the final prospectus relating to the offering,
when available, may be obtained from:
Piper Sandler & Co., Prospectus
Department Phone: (800) 747-3924
Email: prospectus@psc.com
Raymond James & Associates, Inc.,
Syndicate Phone: (800) 248-8863
Email: prospectus@raymondjames.com
Hovde Group, LLC, Syndicate Phone: (866)
971-0961
Email: prospectus@hovdegroup.com
Investors may also view the registration statement, preliminary
prospectus and, when available, the final prospectus on the SEC's
website at www.sec.gov.
About Chain Bridge Bancorp,
Inc.
Chain Bridge Bancorp, Inc., a Delaware corporation, is the registered bank
holding company for Chain Bridge Bank, National Association. Chain
Bridge Bancorp, Inc. is regulated and supervised by the Federal
Reserve under the Bank Holding Company Act of 1956, as amended.
Chain Bridge Bank, National Association is a national banking
association, chartered under the National Bank Act, and is subject
to primary regulation, supervision, and examination by the Office
of the Comptroller of the Currency. Chain Bridge Bank, National
Association is a member of the Federal Deposit Insurance
Corporation (FDIC) and provides banking, trust, and wealth
management services.
Company Contact:
Rachel G. Miller
Senior Vice President, Counsel and Corporate Secretary
Chain Bridge Bancorp, Inc.
IR@chainbridgebank.com
703-748-3427
Forward Looking Statements
This communication
contains forward-looking statements within the meaning of the U.S.
federal securities laws. Forward-looking statements involve risks
and uncertainties. You should not place undue reliance on
forward-looking statements because they are subject to numerous
uncertainties and factors relating to our operations and business,
all of which are difficult to predict and many of which are beyond
our control. Forward-looking statements include information
concerning our possible or assumed future results of operations,
including descriptions of our business strategy. These
forward-looking statements are generally identified by the use of
forward-looking terminology, including the terms "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and, in each case, their negative or other variations or
comparable terminology and expressions. Actual results,
performance, or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking
statements. Any forward-looking statements presented herein are
made only as of the date of this press release, and Chain Bridge
does not undertake any obligation to update or revise any
forward-looking statements to reflect changes in assumptions, new
information, the occurrence of unanticipated events, or otherwise,
except as required by law.
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SOURCE Chain Bridge Bancorp, Inc.