Avidbank Holdings, a California commercial bank focused on corporate banking and real estate in the Bay Area, announced terms for its IPO on Monday. The company's shares are currently quoted on the OTC Pink under the symbol "AVBH."
The San Jose, CA-based company plans to raise $60 million by offering 2.6 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Avidbank Holdings would command a market value of $242 million.
Avidbank is a full-service commercial bank serving small-to-medium sized businesses, technology companies, and individuals with a portfolio of lending products, deposit services, and digital banking capabilities. It focuses on corporate banking, commercial real estate, and real estate construction lending in the Bay Area, while also maintaining a growing national presence in Venture Lending and Specialty Finance. The bank operates one branch and two loan production offices in California, and its Specialty Finance and Venture Lending divisions have bankers and customers located in 37 states across the US. As of March 31, 2025, Avidbank had total assets of $2.3 billion, total loans of $1.8 billion, total deposits of $1.9 billion, and total shareholders' equity of $197 million.
Avidbank Holdings was founded in 2003 and booked $82 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol AVBH. Piper Sandler and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of August 4, 2025.
