Live Oak Bancshares Priced, Nasdaq: LOB

Online lender for small businesses in niche industries across the US.

Industry: Financials

Latest Trade: $24.90 -0.30 (-1.2%)

First Day Return: +12.2%

Return from IPO: +48.2%

Industry: Financials

We are an established national online platform for small business lending. We leverage a comprehensive technology-based platform with deep industry experience to optimize the credit extension process and borrowing experience for our customers. We are organized as a bank holding company headquartered in Wilmington, North Carolina and were incorporated under the laws of North Carolina in December 2008. We conduct business operations primarily through our commercial bank subsidiary, Live Oak Banking Company. The Bank was established in May 2008 as a North Carolina-chartered commercial bank. We believe there is significant opportunity in lending to small businesses nationwide. By focusing on credit quality in verticals where we have a deep understanding, we have the ability to fill a specific market niche. We believe that this niche focus combined with a national presence promotes the origination of high-quality loans. We have never sought to grow for the sake of growth. Rather, we strive to establish ourselves as the preferred lender to, and partner of, small business professionals. As a result, we have provided financing totaling $2.9 billion since May 2007 to fulfill the needs of new and existing business across the U.S.
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IPO News for Live Oak Bancshares
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IPO Data
IPO File Date 06/19/2015
Offer Price $17.00
Price Range $16.00 - $18.00
Offer Shares (mm) 4.8
Deal Size ($mm) $82
IPO Data
IPO Date 07/23/2015
Offer Price $17.00
Price Range $16.00 - $18.00
Offer Shares (mm) 4.8
Deal Size ($mm) $82
Underwriters
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Company Data
Headquarters Wilmington, NC
Founded 2008
Employees 227
Website www.liveoakbank.com