Level One Bancorp Plans $28 Million IPO for April 20th (LEVL)

Level One Bancorp (LEVL) plans to raise $28 million in an initial public offering (IPO) on Friday, April 20th, IPO Scoop reports. The company will be issuing 1,000,000 shares at $27.00-$29.00 per share.

In the last twelve months, Level One Bancorp generated $55.6 million in revenue and $9.8 million in net income. Level One Bancorp has a market-cap of $205.8 million.

Raymond James and Keefe, Bruyette & Woods (A Stifel Company) acted as the underwriters for the IPO and Piper Jaffray was co-manager.

Level One Bancorp provided the following description of their company for its IPO: ”  Level One Bancorp, Inc. is the bank holding company for Level One Bank, headquartered in Farmington Hills located in Oakland County, Michigan. We have grown rapidly since our founding in 2007, and Level One Bank is one of the largest locally-headquartered commercial banks in southeastern Michigan. This growth has been driven primarily by our entrepreneurial culture, our experienced management team and by the economic strength of our core market area in Oakland County, which has the twelfth highest median income in the United States of counties with over one million residents. “.

Level One Bancorp was founded in 2007 and has 235 employees. The company is located at 32991 Hamilton Court, Farmington Hills, MI 48334, US and can be reached via phone at (248) 737-0300 or on the web at http://www.levelonebank.com.

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