Northpointe Bancshares Targets $595 Million Valuation in IPO
Northpointe Bancshares, a private equity-backed community bank, aims for a valuation of up to $595 million in its initial public offering (IPO) in the United States.
The Grand Rapids, Michigan-based bank plans to sell 7.4 million shares, with existing shareholders offering an additional 1.5 million shares, priced between $16 and $18 each. The total offering is expected to raise up to $159 million.
The IPO coincides with a favorable operating environment for the banking sector under the current Republican administration. Analysts predict that 2025 could mark a "Goldilocks" period for the industry.
Northpointe will list on the New York Stock Exchange under the symbol "NPB". Keefe, Bruyette & Woods, Piper Sandler, and Janney Montgomery Scott are acting as underwriters for the offering.