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The IPO Buzz: Chain Bridge Bancorp Prices IPO at $22 – $2 Below Range

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Chain Bridge Bancorp (CBNA), a banking company that caters to the Republican Party’s PACs and campaign fundraising entities, priced its IPO at $22.00 – $2.00 below the bottom of its $24.00-to-$26.00 price range – on Thursday night, Oct. 3, 2024. The McLean, Virginia-based bank holding company sold 1.85 million shares – the number of shares in the prospectus – at $22.00 each – to raise $40.7 million. Chain Bridge Bancorp’s stock is expected to start trading Friday, Oct. 4, 2024, on the New York Stock Exchange. Piper Sandler, Raymond James and the Hovde Group acted as the joint book-runners.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)

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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.


Source: https://www.iposcoop.com/the-ipo-buzz-chain-bridge-bancorp-prices-ipo-at-22-2-below-range/


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