Shares of Texas Capital Bancshares Inc. climbed 9% Wednesday, its first day of trading.
Processing Content
The parent company of Texas Capital Bank priced its initial public offering of common stock at $11 per share Tuesday evening. Three million shares of the offering were primary shares being sold by the company; some existing stockholders also sold three million.
Lehman Brothers acted as the lead underwriter, with U.S. Bancorp Piper Jaffray, SunTrust Robinson Humphrey, and Sandler O'Neill & Partners LP as co-managers. The underwriters received an option to buy an additional 900,000 shares at the initial offering price to cover overallotments.
