Chain Bridge Bancorp, Inc. Announces Pricing of Initial Public Offering

MCLEAN, Va., Oct. 3, 2024 /PRNewswire/ -- Chain Bridge Bancorp, Inc. ("Chain Bridge"), the bank holding company for Chain Bridge Bank, National Association, today announced the pricing of its initial public offering of 1,850,000 shares of its Class A common stock at a public offering price of $22.00 per share. The shares are expected to begin trading on October 4, 2024 on the New York Stock Exchange under the ticker symbol "CBNA". The closing of the offering is expected to occur on October 7, 2024, subject to the satisfaction of customary closing conditions.

In addition, 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.

Piper Sandler & Co. is acting as lead book-running manager for the offering. Raymond James & Associates, Inc. and Hovde Group, LLC are also acting as book-running managers.

A registration statement on Form S-1 (including a preliminary prospectus) relating to these securities was declared effective by the Securities and Exchange Commission on October 3, 2024. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, 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.

The offering has been made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained from:

     Piper Sandler & Co., Prospectus Department Phone: (800) 747-3924
     Email: [email protected]

     Raymond James & Associates, Inc., Syndicate Phone: (800) 248-8863
     Email: [email protected]

     Hovde Group, LLC, Syndicate Phone: (866) 971-0961
     Email: [email protected]

Investors may also view the registration statement, preliminary prospectus and, when available, the final prospectus on the SEC's website at www.sec.gov.

About Chain Bridge Bancorp, Inc.
Chain Bridge Bancorp, Inc., a Delaware corporation, is the registered bank holding company for Chain Bridge Bank, National Association. Chain Bridge Bancorp, Inc. is regulated and supervised by the Federal Reserve under the Bank Holding Company Act of 1956, as amended. Chain Bridge Bank, National Association is a national banking association, chartered under the National Bank Act, and is subject to primary regulation, supervision, and examination by the Office of the Comptroller of the Currency. Chain Bridge Bank, National Association is a member of the Federal Deposit Insurance Corporation (FDIC) and provides banking, trust, and wealth management services.

Company Contact:
Rachel G. Miller
Senior Vice President, Counsel and Corporate Secretary
Chain Bridge Bancorp, Inc.
[email protected]
703-748-3427

Forward Looking Statements
This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements involve risks and uncertainties. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other variations or comparable terminology and expressions. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and Chain Bridge does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by law.

SOURCE Chain Bridge Bancorp, Inc.