Bridgewater Bancshares Inc’s $90.5 Million Initial Public Offering


Barack Ferrazzano advised Bridgewater Bancshares, Inc. in the offering.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) 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.

Bridgewater Bancshares, Inc. operates as a bank holding company. The Company, led by Jerry Baack, Mary Jayne Crocker and Jeffrey D Shellberg, in 2017 recorded $68.9 Million Revenues.

Barack Ferrazzano advised Bridgewater Bancshares with a team including Joseph Ceithaml (Picture), 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.

Involved fees earner: Joseph Ceithaml – Barack Ferrazzano; Robert Fleetwood – Barack Ferrazzano; Bill Fay – Barack Ferrazzano; Nicholas Brenckman – Barack Ferrazzano; Andrew Strimaitis – Barack Ferrazzano; K.C. Klagos – Barack Ferrazzano; Brent McCauley – Barack Ferrazzano;

Law Firms: Barack Ferrazzano;

Clients: Bridgewater Bancshares, Inc.;

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Author: Ambrogio Visconti