Live Oak Bancshares, which lends to small businesses in niche industries across the country, filed on Friday with the SEC to raise up to $86 million in an initial public offering.
The company previously filed for an IPO in April 2014, but withdrew the offering in September. As of March 31, 2015, Live Oak Bancshares had $723 million in assets. During 2014, it grew net interest income by 36% to $15 million.
The Wilmington, NC-based company, which was founded in 2008, plans to list on the NASDAQ under the symbol LOB. Live Oak Bancshares initially filed confidentially on 4/3/2015. Sandler O'Neill, Keefe Bruyette Woods and Suntrust Robinson Humphrey are the joint bookrunners on the deal. No pricing terms were disclosed.
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