at a price to the public of $18.00 per share, above the expected $15-$17 range. The shares are expected to begin trading today on the NASDAQ under the symbol “SQBK."Of the 5,781,126 shares sold in the public offering, 3,125,000 were shares of Class A common stock sold by Square 1 and 2,656,126 were shares of Class A and Class B common stock by certain selling shareholders. The Class B common stock will convert to Class A common stock upon sale in the offering.
Sandler O’Neill & Partners, L.P. is acting as lead book-running manager, and Keefe, Bruyette & Woods, a Stifel Company
, is acting as joint book-running manager.Square 1 Financial
, Inc. is the holding company for Square 1 Bank, a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1’s expertise and focus provide flexible resources, tailored solutions and high-touch support to meet our clients’ needs. Square 1 Bank provides loans, deposits, treasury management services and investment advisory services. The Square 1 team consists of 240 employees in 11 offices located in key innovation markets across the
Square 1 Financial (NASDAQ: SQBK) announced the pricing of itsinitial public offering
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