BankFlorida, a community bank with one branch in Southern Florida, postponed its IPO on Monday. It had filed to raise $42 million by offering 4.2 million shares at a price range of $9.50 to $10.50. At the midpoint, the bank would have been valued at $51 million.
The Palm Beach Gardens, FL-based company was founded in 2007 and booked $3 million in revenue for the 12 months ended December 31, 2018. It had planned to list on the Nasdaq under the symbol BFL. B. Riley FBR was set to be the sole bookrunner on the deal.
