People’s Utah to sell 2.5 million shares at $13.00 to $15.00 in IPO

D.A. Davidson is bookrunner; Sandler O’Neill and FIG Partners assist

By Devika Patel

Knoxville, Tenn., May 15 – People’s Utah Bancorp will sell 2.5 million common shares in its initial public offering with a 30-day greenshoe of 375,000 additional shares, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The company has registered up to $40.25 million of stock for the deal, which includes a secondary sale of 218,000 shares.

The stock will be sold at a price expected to fall between $13.00 and $15.00 per share.

D.A. Davidson & Co. is the bookrunning manager. Sandler O’Neill + Partners, LP and FIG Partners, LLC are the co-managers.

Proceeds will be used to expand operations by opening new branches or through acquisitions and for general corporate purposes.

The family of banks is based in American Fork, Utah. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “PUB.”

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