Bridgewater Bancshares, Inc. Closes $90.5M Initial Public Offering
The Barack Ferrazzano Financial Institutions Group served as issuer’s counsel for Bridgewater Bancshares, Inc. in connection with its initial public offering. Joseph Ceithaml, leader of the Group’s Securities and Transactional practice areas, led the Barack Ferrazzano deal team and was supported by Rob Fleetwood, Bill Fay and Nick Brenckman. Andrew Strimaitis and KC Klagos advised on executive compensation matters, and Brent McCauley advised on bank regulatory matters.
About the Offering
On March 16, 2018, Bridgewater Bancshares, Inc. completed its initial public offering. In the offering, Bridgewater sold 5,379,513 shares of common stock at an initial public offering price of $11.75 per share. Shareholders sold an additional 2,325,487 shares of common stock at the same offering price. The shares began trading on March 14, 2018 on the Nasdaq Capital Market under the symbol "BWB".
About Bridgewater Bancshares
Bridgewater Bancshares, Inc. is the holding company for Bridgewater Bank, a full-service commercial bank formed in 2005 to serve the diverse needs of commercial real estate investors, small business entrepreneurs and high-net-worth individuals. Bridgewater Bank has six locations serving clients across the Minneapolis-St. Paul-Bloomington metropolitan statistical area in Minnesota and offers a full array of simple, quality loan and deposit products primarily for commercial clients. As of December 31, 2017, Bridgewater Bank had total assets of approximately $1.6 billion, total loans of approximately $1.3 billion, total deposits of approximately $1.3 billion and total shareholders’ equity of approximately $137.2 million.
Click here to read the full Bridgewater Bancshares, Inc. press release.
Barack Ferrazzano Financial Institutions Group
Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled—in 2017 we were the #1 legal advisor in the U.S. by announced bank and thrift M&A transactions and over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to S&P Global Market Intelligence. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2018 report.