Southern States Bancshares, Inc.

Southern States Bancshares, Inc. (SSBK) priced its initial public offering on Aug 12, 2021 at $19.00 per share, within its $19.00–$21.00 range, raising $38M. At the IPO price its market capitalization was about $165.5M. Stifel was lead-left underwriter, joined by Hovde and Performance Trust Capital Partners. Jones Walker advised the company and Jones Day advised the underwriters.

Southern States Bancshares, Inc. is a bank holding company headquartered in Anniston, Alabama. Through Southern States Bank, formed in 2007, it offers deposit, loan and other banking services to small and medium-sized businesses and individuals in its communities.

Status

IPO

Ticker

SSBK

Priced

Aug 12, 2021

IPO price

$19.00

Price range

$19.00–$21.00

Raised

$38M

Market cap at IPO price

$165.5M

First filed

Jul 15, 2021

Underwriters

Stifel, Hovde and Performance Trust Capital Partners

Company counsel

Jones Walker

Underwriters' counsel

Jones Day

Sector

Financials

Country / state

AL

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