Live Oak to price IPO of 4 million shares between $16.00 and $18.00

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

By Devika Patel

Knoxville, Tenn., July 17 – Live Oak Bancshares, Inc. will sell 4 million common shares in its initial public offering with a 30-day greenshoe of additional shares, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The deal was announced on June 19.

The shares will be sold at a price expected to fall between $16.00 and $18.00 per share.

Sandler O’Neill + Partners, LP, Keefe, Bruyette & Woods and SunTrust Robinson Humphrey Inc. 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.”

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