Bay Commercial Bank (BCML) Announces Proposed 2.27M Share IPO Between $21-$23/Sh

BayCom Corp (NASDAQ: BCML) announced today that it has commenced an initial public offering of 2,272,727 shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. It is expected that the underwriters will have a 30-day option to purchase up to an additional 340,909 shares from BayCom. The initial public offering price is expected to be between $21.00 and $23.00 per share, and the common stock is expected to trade on the Nasdaq Global Select Market under the symbol “BCML.” The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

BayCom expects to receive net proceeds of approximately $46.0 million from the offering, after deducting underwriting discounts and estimated offering expenses, which it intends to use to repay a $6.0 million term loan and for general corporate purposes, including to increase capital levels to support further organic growth and acquisitions.

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