SSBK News

In the typically-slow month of August, nine IPOs raised $1.0 billion, joined by 31 SPACs. Only four of the nine offerings raised over $100 million. Activity was well below August 2020, which saw investors and bankers skip their vacations due to the pandemic. Five listings also postponed this past month amid poor IPO aftermarket returns and “IPO indigestion” after summer...read more

The summer IPO market is wrapping up, and while we could see a few more launches, this past week’s two deals should be some of the last IPOs before fall. SPAC activity continued to bounce back, with 17 blank check IPOs during the week. After slashing its range, holdover Eliem Therapeutics (ELYM) raised $80 million at a $344 million market cap. Its lead...read more

Southern States Bancshares, an Alabama bank with 15 branches in Alabama and Georgia, raised $38 million by offering 2 million shares (50% secondary) at $19, the low end of the range of $19 to $21. Southern States Bancshares is a bank holding company that operates primarily through its wholly-owned subsidiary Southern States Bank, a full service community banking institution that...read more

The IPO market is getting a breather as the August lull continues to set in, with just two banks scheduled for the week ahead. Utah-based digital bank FinWise Bancorp (FINW) plans to raise $58 million at a $183 million market cap. FinWise Bank makes loans to and takes deposits from consumers and small businesses across the US. As of 3/31/21, FinWise Bancorp...read more