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Micro-cap BankFlorida postpones $42 million IPO – Nasdaq


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BankFlorida, a community bank with one branch in Southern Florida, postponed its IPO on Monday. It had filed to raise $42 million by offering 4.2 million shares at a price range of $9.50 to $10.50. At the midpoint, the bank would have been valued at $51 million.

The Palm Beach Gardens, FL-based company was founded in 2007 and booked $3 million in revenue for the 12 months ended December 31, 2018. It had planned to list on the Nasdaq under the symbol BFL. B. Riley FBR was set to be the sole bookrunner on the deal.

The article Micro-cap BankFlorida postpones $42 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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