Avidbank Holdings, a California commercial bank focused on the Bay Area, raised $60 million by offering 2.6 million shares at $23, the midpoint of the $22 to $24 range.
Previously quoted on the OTC Pink, 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 plans to list on the Nasdaq under the symbol AVBH. Piper Sandler and Stephens Inc. acted as joint bookrunners on the deal.
