Bank7 Corp. Launches Initial Public Offering of Common Stock
OKLAHOMA CITY, Okla., Sept. 10, 2018 (GLOBE NEWSWIRE) — Bank7 Corp., the bank holding company for Bank7, today announced the launch of its initial public offering of common stock. Bank7 Corp. intends to offer 2,825,000 shares of its common stock and certain selling shareholders intend to offer 500,000 shares of Bank7 Corp. common stock. The initial public offering price is currently expected to be between $18.00 and $21.00 per share. The selling shareholders would grant the underwriters a 30-day option to purchase up to an additional 498,750 shares of its common stock. In connection with the initial public offering, Bank7 Corp. has applied to list its common stock on the Nasdaq Global Select Market under the trading symbol “BSVN.”
Bank7 Corp. intends to use the net proceeds from the proposed offering to fund a cash distribution to its existing shareholders and for general corporate purposes. Bank7 Corp. will not receive any proceeds from the sale of shares of common stock by the selling shareholders in the offering.
Keefe, Bruyette & Woods, A Stifel Company and Stephens Inc. are acting as joint book-running managers and Sandler O’Neill + Partners, L.P. is acting as co-manager.
The offering will be made only by means of a prospectus. Copies of the preliminary 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.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.
Thomas L. Travis, President and CEO
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