Chain Bridge Bancorp Files S-1/A for IPO
Ticker: CBNA · Form: S-1/A · Filed: Sep 30, 2024 · CIK: 1392272
Sentiment: neutral
Topics: ipo, registration, sec-filing
TL;DR
Chain Bridge Bancorp IPO filing updated. Going public soon.
AI Summary
Chain Bridge Bancorp, Inc. filed an S-1/A amendment on September 30, 2024, for its initial public offering. The company, incorporated in Delaware with its principal executive offices in McLean, VA, is seeking to register an unspecified number of shares under the Securities Act of 1933. The filing includes details on its agent for service, Rachel G. Miller, and legal counsel, Sullivan & Cromwell LLP.
Why It Matters
This S-1/A filing indicates Chain Bridge Bancorp is moving forward with its plan to become a publicly traded company, which could impact its capital structure and future growth strategies.
Risk Assessment
Risk Level: medium — As an S-1/A filing for an IPO, the company is in the early stages of public trading, which inherently carries higher risks than established public companies.
Key Numbers
- 333-282102 — SEC Registration Number (Identifies this specific registration filing)
- 20240930 — Filing Date (Indicates when the amendment was submitted)
Key Players & Entities
- Chain Bridge Bancorp, Inc. (company) — Registrant
- September 30, 2024 (date) — Filing Date
- 333-282102 (registration_number) — SEC Registration Number
- Rachel G. Miller (person) — Agent for Service
- Sullivan & Cromwell LLP (company) — Legal Counsel
- 1445-A Laughlin Avenue McLean, VA 22101 (address) — Principal Executive Offices
FAQ
What is the purpose of this S-1/A filing?
This is an amendment to a Form S-1 Registration Statement, indicating Chain Bridge Bancorp, Inc. is updating its filing in preparation for an initial public offering (IPO).
When was this amendment filed with the SEC?
This amendment was filed as of September 30, 2024.
Who is the agent for service for Chain Bridge Bancorp, Inc.?
Rachel G. Miller, Senior Vice President, Counsel & Corporate Secretary for Chain Bridge Bancorp, Inc., is listed as the agent for service.
What is the principal executive office address for Chain Bridge Bancorp, Inc.?
The principal executive offices are located at 1445-A Laughlin Avenue, McLean, VA 22101.
Which law firm is representing Chain Bridge Bancorp, Inc. in this filing?
Sullivan & Cromwell LLP is listed as providing copies to the SEC.
Filing Stats: 4,510 words · 18 min read · ~15 pages · Grade level 13.1 · Accepted 2024-09-30 08:01:38
Key Financial Figures
- $0.01 — ares of Class A common stock, par value $0.01 per share, of Chain Bridge Bancorp, Inc
- $24.00 — ur Class A common stock will be between $24.00 and $26.00 per share. We have been appr
- $26.00 — common stock will be between $24.00 and $26.00 per share. We have been approved to lis
- $1.00 — k refers to our common stock, par value $1.00 per share, prior to the Reclassificatio
- $1.4 b — June 30, 2024, we held total assets of $1.4 billion, including $488.0 million in cash
- $488.0 million — total assets of $1.4 billion, including $488.0 million in cash and cash equivalents, of which
- $471.2 million — in cash and cash equivalents, of which $471.2 million were interest-bearing reserves held at
- $604.0 million — Federal Reserve. Our portfolio included $604.0 million in securities, with $246.6 million or 4
- $246.6 million — uded $604.0 million in securities, with $246.6 million or 40.6% of that in U.S. Treasury secur
- $300.4 million — fees and costs and allowances, totaled $300.4 million. Our total deposits stood at $1.3 billi
- $1.3 b — .4 million. Our total deposits stood at $1.3 billion, with stockholders equity at $94.
- $94.0 million — .3 billion, with stockholders equity at $94.0 million. Approximately 94.2% of these deposits
- $364.0 m — ed total assets under administration of $364.0 million, consisting of $98.0 million of a
- $98.0 million — ration of $364.0 million, consisting of $98.0 million of assets under management and $266.0 m
- $266.0 million — million of assets under management and $266.0 million of assets under custody as of June 30,
Filing Documents
- d807354ds1a.htm (S-1/A) — 3300KB
- d807354dex11.htm (EX-1.1) — 202KB
- d807354dex32.htm (EX-3.2) — 138KB
- d807354dex51.htm (EX-5.1) — 5KB
- d807354dex231.htm (EX-23.1) — 2KB
- d807354dexfilingfees.htm (EX-FILING FEES) — 19KB
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- 0001193125-24-228443.txt ( ) — 6999KB
Risk Factors
Risk Factors 27 Cautionary Note Regarding Forward-Looking Statements 66
Use of Proceeds
Use of Proceeds 68 Dividend Policy and Dividends 69 Capitalization 70
Managements Discussion and Analysis of Financial Condition and Results
Managements Discussion and Analysis of Financial Condition and Results of Operations 74
Business
Business 111 Supervision and Regulation 132 Management 142 Executive and Director Compensation 152
Security Ownership of Certain Beneficial Owners and
Security Ownership of Certain Beneficial Owners and Management 157 Certain Relationships and Other Related Party Transactions 162
Description of Capital Stock
Description of Capital Stock 164 Shares Eligible for Future Sale 170 Material United States Tax Consequences to Non-U.S. Holders of Common Stock 172
Underwriting
Underwriting 176 Validity of Class A Common Stock 180 Experts 180 Where You Can Find More Information 180 Index to Financial Statements F-1 We have not, and the underwriters have not, authorized anyone to provide any information or to make any representation other than those contained in this prospectus or any free writing prospectuses we have prepared. We and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We are offering to sell, and seeking offers to buy, shares of our Class A common stock only in jurisdictions where offers and sales are permitted. You should assume that the information appearing in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of shares of our Class A common stock. Our business, financial condition, results of operations and prospects may have changed since that date. Through and including, 2024 (the 25th day after the date of this prospectus), all dealers effecting transactions in our Class A common stock, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealers obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription. Market and Industry Data Within this prospectus, we reference certain industry and sector information and statistics. We have obtained this information and these statistics from various independent, third-party sources. Nothing in the data used or derived from third-party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of internal surveys and independent sources. We believe that these external sources and estimates are reliable, but have not independently verified them. Statements as to our mark