Live Oak registers $86.25 million of its stock for initial public sale

Bookrunners Sandler O’Neill, Keefe, Bruyette, SunTrust Robinson assist

By Devika Patel

Knoxville, Tenn., June 19 – Live Oak Bancshares, Inc. will price an initial public offering of common stock with a 30-day greenshoe, according to a Form S-1 filed Friday with the Securities and Exchange Commission. The company has registered up to $86.25 million of stock.

Sandler O’Neill + Partners, LP, Keefe, Bruyette & Woods and SunTrust Robinson Humphrey are the bookrunners.

Proceeds will be used for growth, expansion, to develop a new online lending platform and for general corporate purposes.

The holding company for Live Oak Banking Co. is based in Wilmington, N.C. The company expects its shares will trade on the Nasdaq under the symbol “LOB.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.