Company: Bridgewater Bancshares, Inc.
Symbol: BWB
Description: They are a financial holding company headquartered in Bloomington, Minnesota, a suburb located approximately 10 miles south of downtown Minneapolis and in close proximity to the Minneapolis-St. Paul International Airport.
Trade Date: Week of 3/12
Shares: 6.7 million
Price Range: $10.50-$12.50
Underwriter(s): Sandler O Neill + Partners, DA Davidson
Terms Added 3-5-18
Business: Their bank subsidiary, Bridgewater Bank, was established in 2005 as a de novo bank by a group of industry veterans and local business leaders committed to serving the diverse needs of commercial real estate investors, small business entrepreneurs and high-net-worth individuals. Their investors are strong local advocates and are part of an expanding referral network that consistently generates new clients for the Bank.
Financials: Their total assets were $576.2 million, $702.2 million, $928.7 million, $1.260 billion and $1.617 billion and their net income was $6.45 million, $9.93 million, $11.20 million, $13.22 million and $16.89 million in 2013, 2014, 2015, 2016, and 2017, respectively.
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
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