MetroCity Bankshares, Inc.

MetroCity Bankshares, Inc. (MCBS) priced its initial public offering on Oct 3, 2019 at $13.50 per share, below its $14.50–$16.50 range, raising $26.2M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $341.6M. Raymond James was lead-left underwriter, joined by Stifel and Hovde. Alston & Bird advised the company and Hunton Andrews Kurth advised the underwriters.

MetroCity Bankshares, Inc. is a bank holding company based in the Atlanta area. Its subsidiary, Metro City Bank, founded in 2006, runs 19 branches in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia, serving small and medium-sized businesses and individuals, mainly in Asian-American communities.

Status

IPO

Ticker

MCBS

Exchange

Nasdaq Global Select

Priced

Oct 3, 2019

IPO price

$13.50

Price range

$14.50–$16.50

Raised

$26.2M

Market cap at IPO price

$341.6M

First filed

Sep 4, 2019

Underwriters

Raymond James, Stifel and Hovde

Company counsel

Alston & Bird

Underwriters' counsel

Hunton Andrews Kurth

Sector

Financials

Country / state

GA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.