RALEIGH, N.C., May 26, 2016 /PRNewswire/ -- Paragon Commercial Corporation (OTCQX: PBNC), parent company of Paragon Bank, announced it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock.
The number of shares and the price range for the proposed offering have not yet been determined. The Company has applied to list its common stock on the NASDAQ Capital Market under the ticker symbol "PBNC."
Raymond James & Associates will serve as the book-running manager for the offering and Sandler O'Neill + Partners, L.P. will serve as co-manager.
The offering will be made only by means of a prospectus. Once available, copies of the preliminary prospectus relating to the offering may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, 800.248.8863, firstname.lastname@example.org; or from Sandler O'Neill + Partners, L.P., by phone at 866.805.4128 or email at email@example.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state or jurisdiction.
ABOUT PARAGON COMMERCIAL CORPORATION
Paragon Commercial Corporation is the parent company of Paragon Bank, which provides a private banking experience to businesses, professionals, executives, entrepreneurs and other individuals. Founded in Raleigh, North Carolina in 1999, Paragon Bank currently has assets of $1.3 billion. Banking services are provided through highly responsive professionals, an extensive courier service, online and mobile technologies, free worldwide ATM access, and a select number of strategically placed offices in Raleigh, Cary and Charlotte, NC.
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SOURCE Paragon Commercial Corporation