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 opened flat – at $22.00 – on the New York Stock Exchange today – Friday, Oct. 4, 2024. At midday, Chain Bridge Bancorp’s stock was down 63 cents – or 2.86 percent – to trade at $21.37 on NYSE volume of 208,630 shares.
At the close, Chain Bridge Bancorp’s stock was down 80 cents – or off 3.64 percent – to end on Friday, Oct. 4, 2024, at $21.20 on NYSE volume of 345,048 shares.
Piper Sandler, Raymond James and the Hovde Group acted as the joint book-runners.
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