Bankwell to price IPO of 2,222,222 shares between $21.00 and $24.00

Sandler O'Neill and Keefe, Bruyette & Woods are the joint bookrunners

By Devika Patel

Knoxville, Tenn., May 5 - Bankwell Financial Group, Inc. will sell 2,222,222 common shares in its initial public offering with a 30-day greenshoe of 333,333 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced April 4.

The shares will be sold at a price expected to fall between $21.00 and $24.00 per share.

Sandler O'Neill + Partners, LP and Keefe, Bruyette & Woods are the joint bookrunning managers.

Proceeds will be used for general corporate purposes.

The company also said that the secretary of the U.S. Treasury will sell 10,980 series C preferred shares.

The bank holding company is based in New Canaan, Conn. The company expects its shares will trade on the Nasdaq under the symbol "BWFG."

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