SAN JOSE, CA / ACCESS Newswire / August 7, 2025 / Avidbank Holdings, Inc. ("Avidbank Holdings" or the "Company"), a California corporation and the bank holding company for Avidbank (the "Bank"), a California state-chartered bank, announced today the pricing of its initial public offering of 2,610,000 shares of its common stock, at a public offering price of $23.00 per share. The shares are expected to begin trading on August 8, 2025 on the Nasdaq Global Select Market under the ticker symbol "AVBH". The closing of the offering is expected to occur on August 11, 2025, subject to the satisfaction of customary closing conditions.

In addition, Avidbank Holdings has granted the underwriters a 30-day option to purchase up to an additional 391,500 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

Avidbank Holdings intends to use the net proceeds from the offering to increase the capital of the Bank to support the Company's organic growth strategies, including expanding its overall market share and lending activities, strengthening regulatory capital, the potential optimization of the balance sheet, which may include repositioning a substantial portion of the available-for-sale securities portfolio, and for working capital and other general corporate purposes.

Piper Sandler and Stephens Inc. are Joint Bookrunners for the offering, with D.A. Davidson & Co. acting as Lead Manager and Janney Montgomery Scott LLC as Co-manager. Manatt, Phelps & Phillips, LLP is serving as counsel to the Company and Davis Polk & Wardwell LLP is serving as counsel to the underwriters.

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 August 7, 2025. 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 is being 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: prospectus@psc.com

Stephens Inc., Syndicate Department
Phone: (800) 643-9691
Email: prospectus@stephens.com

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 Avidbank
Avidbank Holdings, Inc., headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.

Contact: Patrick Oakes
Executive Vice President and Chief Financial Officer
408-200-7390
IR@avidbank.com

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. 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. This document specifically contains forward-looking statements regarding the proposed offering, the anticipated use of the net proceeds therefrom, the expected listing on Nasdaq, and anticipated terms of the proposed offering. 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, including those set forth in the Risk Factors section of the Company's registration statement on Form S-1 relating to the offering, as well as any other SEC filings, as amended or updated from time to time. Any forward-looking statements presented herein are made only as of the date of this press release, and Avidbank Holdings 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: Avidbank Holdings, Inc.