Forbright Inc. finalized its initial public offering, selling 7.9 million shares of Class A common stock at $18.00 per share and generating approximately $142.2 million in gross proceeds, the company said in a statement.
The newly issued shares began trading on the Nasdaq Global Select Market under the ticker FRBT. As is customary in many public offerings, the company granted the underwriting syndicate a 30-day option to acquire up to 1.185 million additional shares at the IPO price, less the underwriting discounts and commissions.
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint lead book-running managers for the offering. Barclays served as the active book-running manager. Wells Fargo Securities LLC, Piper Sandler & Co., TD Securities (USA) LLC and Santander US Capital Markets LLC participated as joint bookrunners, while Centerview Partners LLC served as co-manager.
The Securities and Exchange Commission declared Forbright's registration statement on Form S-1 effective on June 10, 2026.
Forbright is a bank holding company and the parent organization of FDIC-insured Forbright Bank. Its stated financial services platform spans middle-market lending, digital consumer banking, strategic advisory and asset management services. The bank's headquarters are in Chevy Chase, Maryland.
Context and immediate mechanics of the deal
- The firm completed the sale of 7.9 million Class A shares at $18.00 each, producing roughly $142.2 million in gross proceeds.
- The listing took place on the Nasdaq Global Select Market under the ticker FRBT.
- Underwriters retain a 30-day option to purchase up to 1.185 million additional shares at the IPO price, subject to customary underwriting discounts and commissions.
Offering participants
- Joint lead book-runners: Goldman Sachs & Co. LLC and J.P. Morgan.
- Active book-running manager: Barclays.
- Joint bookrunners: Wells Fargo Securities LLC, Piper Sandler & Co., TD Securities (USA) LLC and Santander US Capital Markets LLC.
- Co-manager: Centerview Partners LLC.
What the company does
Forbright operates as a financial services holding company. Its platform includes middle-market lending, digital consumer banking offerings, strategic advisory services and asset management, and it is the parent of FDIC-insured Forbright Bank based in Chevy Chase, Maryland.