Holland & Knight Advises Underwriters of $40.7 Million Initial Public Offering of Chain Bridge Bancorp Inc.

MCLEAN, Va. (October 11, 2024) – Holland & Knight advised Piper Sandler & Co. (NYSE: PIPR) as lead book-running manager and Raymond James & Associates Inc. (NYSE: RJF) and Hovde Group LLC as book-running managers in the $40.7 million initial public offering of Chain Bridge Bancorp Inc., the bank holding company for Chain Bridge Bank, National Association. The 1.85 million shares of Chain Bridge's Class A common stock were listed at the public offering price of $22 per share and began trading on the New York Stock Exchange under the ticker symbol CBNA on Oct. 4, 2024. The offering closed on Oct. 7, 2024.

Additionally, Chain Bridge has granted the underwriters a 30-day option to purchase up to an additional 277,500 shares of its Class A common stock at the initial public offering price, less underwriting discounts. Chain Bridge intends to use the net proceeds from the offering primarily for general corporate purposes, which may include supporting continued organic deposit growth and funding potential strategic expansion, and to repay the $10 million outstanding principal balance under its unsecured line of credit.

Holland & Knight Partners Kevin Houlihan, Mark Goldschmidt and William Levay and Associates Mary Ellen Stanley, Amelia Occhino, Stephanie Torres and Elizabeth Gaskins led the firm's representation of the underwriters in the offering.

More information on the transaction can be found here.