Small business lender Live Oak Bancshares files for an $86 million IPO

Live Oak Bancshares, which lends to small businesses in niche industries across the country, filed on Monday with the SEC to raise up to $86 million in an initial public offering. The Wilmington, NC-based company, which was founded in 2008 and booked $58 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol LOB. Live Oak Bancshares initially filed confidentially on March 11, 2014. Keefe Bruyette Woods is the sole bookrunner on the deal. No pricing terms were disclosed.