Posts tagged “Square 1”
The first quarterly financial results disclosed early Wednesday by Durham's Square 1 Bank show a profit of 31 cents per share, or $7.8 million. That's more than double what Square 1 earned a year earlier and topped the expectations of a Wall Street analyst following the firm, which went public in March.
Square 1 Bank CEO Doug Bowers ran the opening bell on Nasdaq today as the Durham-based venture capital focused bank goes public. Its shares priced at $18, above the forecast range of $15 to $17. Shares immediately surged 12 percent. and hit a high of $20.70.
The chase for venture capital has always been a "chicken vs. egg" debate. But what if it's really chicken (capital) vs. egg (ideas) vs. hatchery (VCs)? Can you have a productive venture capital-sparked startup community like Silicon Valley without top-drawer VCs?
The Durham-based venture capital focused bank looks to raise $45.5 million after expenses and investors are hoping to cash out a similar amount when its IPO is executed on Thursday.
In its latest SEC filing, Durham-based Square 1 Bank says it plans to offer some 7 million shares at a price range of $15 to $17 each. The company recently said it hoped to raise around $57 million.
Today's "Startup blog" - the first in a regular addition to WRALTechWire's lineup - focuses on Triangle and NC startups, an IPO update, and a kickstarter success. Check out details about Square 1 Bank, NC IDEA's application deadline, CED's fund-raising series, Mohu's kickstarter success, and a mentoring program from Up Global NEXT.
Quintiles led the class of Triangle IPOs in the last year at nearly $1 billion in value, but ChannelAdvisor's stock is showing remarkable strength. So is Aerie Pharmaceuticals. With Scynexis filing to go public Thursday, WRALTechWire updates what has happened on the stock "exit route" for regional firms and how their stocks have fared since.
Square 1 Bank's latest financials show increasing profit in recent years as the Durham-based financial firm focused on the venture capital industry gears up for a possible $58 million initial public offering. What's driving the growth?
Durham-based Square 1 Bank, which launched in 2005 and has grown steadily over the years to develop a national presence while focused on clients related to the venture capital industry, plans to go public with a stock offering. Like the firms they work with through Square 1, investors are looking for an "exit."