Bank7 Announces Closing of Initial Public Offering
OKLAHOMA CITY, Sept. 24, 2018 (GLOBE NEWSWIRE) — Bank7 Corp., the bank holding company for Bank7, today announced that it has completed its initial public offering of 3,400,000 shares of its common stock at a price to the public of $19.00 per share, 2,900,000 shares of which were offered by Bank7 Corp. and 500,000 shares of which were offered by certain selling shareholders. Bank7 Corp.’s common stock began trading on the NASDAQ Global Select Market on September 20, 2018, under the symbol “BSVN.”
The underwriters have a 30-day option, which commenced September 19, 2018, to purchase up to 510,000 additional shares of common stock from certain selling shareholders at the initial public offer price less underwriting discounts to cover over-allotments, if any.
Keefe, Bruyette & Woods, A Stifel Company and Stephens Inc. acted as joint book-running managers and Sandler O’Neill + Partners, L.P. acted as co-manager. Bank7 Corp. was represented by Hunton Andrews Kurth LLP. The underwriters were represented by Bracewell LLP.
The U.S. Securities and Exchange Commission (the “SEC”) declared the registration statement relating to these securities effective on September 19, 2018. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, or by calling 1-800-966-1559, or from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attention: Syndicate, or by calling 1-800-643-9691. Copies of the registration statement relating to these securities and the final prospectus may also be obtained free of charge from the website of the SEC at http://www.sec.gov.
About Bank7 Corp.
Bank7 Corp. is the bank holding company for Bank7, an Oklahoma chartered bank headquartered in Oklahoma City, Oklahoma, which operates seven full-service branches in Oklahoma, the Dallas/Fort Worth metropolitan area, and Kansas. Bank7 focuses on serving business owners and entrepreneurs by delivering fast, consistent and well-designed banking solutions. As of June 30, 2018, Bank7 Corp. had total assets of $727.6 million, total loans of $589.3 million, total deposits of $641.8 million and total shareholders’ equity of $77.6 million.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements. These forward-looking statements reflect Bank7 Corp.’s current views with respect to, among other things, the commencement and completion of the initial public offering of its common stock. Any statements about Bank7 Corp.’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Bank7 Corp. cautions that the forward-looking statements in this press release are based largely on Bank7 Corp.’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond Bank7 Corp.’s control. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and Bank7 Corp. does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by law.
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Photography by Libby Greene/Nasdaq, Inc.