Nashville bank Avenue Financial Holdings files for a $30 million IPO

Avenue Financial Holdings, a commercial bank with five locations in the Nashville MSA and $1 billion in assets, filed on Friday with the SEC to raise up to $30 million in an initial public offering.
The company lists Goldman Sachs (GS) among its primary shareholders. ServisFirst Bancshares (SFBS), a bank with offices in Tennessee, raised $57 million in May 2014 and now trades 2% above its offer price.

The Nashville, TN-based company, which was founded in 2006 and booked $32 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol AVNU. Avenue Financial Holdings initially filed confidentially on August 22, 2014. Keefe Bruyette Woods is the sole bookrunner on the deal. No pricing terms were disclosed.

Source:  Renaissance Capital - manager of IPO-focused ETFs.

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