BLOOMINGTON, Minn.–(PRNewswire)–Bridgewater Bancshares, Inc. (“Bridgewater”) (Nasdaq: BWB) announced today that it has completed its previously announced initial public offering. In the offering, Bridgewater sold 5,379,513 shares, including 1,005,000 shares of common stock sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at an initial public offering price of $11.75 per share, resulting in net proceeds to Bridgewater, after deducting underwriting discounts and commissions and estimated offering expenses, of $58.4 million. The selling shareholders sold an additional 2,325,487 shares of common stock in the offering at the initial public offering price. Bridgewater did not receive any proceeds from the sale of shares of common stock sold by the selling shareholders in the offering. The shares began trading on the Nasdaq Capital Market on Wednesday, March 14, 2018, under the symbol “BWB.”
Sandler O’Neill + Partners, L.P. and D.A. Davidson & Co. acted as joint book-running managers for the offering. Copies of the final prospectus related to the offering may be obtained from: Sandler O’Neill + Partners, L.P., Attention: Syndicate, 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, by emailing syndicate@sandleroneill.com or by calling (866) 8054128, or D.A. Davidson & Co., Attention: Syndicate, 8 Third Street North, Great Falls, Montana 59401, by calling 1-800-332-5915 or by emailing prospectusrequest@dadco.com.
A registration statement, including a prospectus, relating to the common stock was declared effective by the Securities and Exchange Commission on March 13, 2018. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.