05:57 AM EDT, 10/04/2024 (MT Newswires) -- Chain Bridge Bancorp ( CBNA ) said late Thursday it has priced its initial public offering of about 1.9 million class A common shares at $22 per share.

Underwriters will get a 30-day option to purchase up to an additional 277,500 shares.

Shares of the company will begin trading this Friday on the New York Stock Exchange under the ticker symbol, "CBNA."

Proceeds from the offering, expected to close on Oct. 7, will be used for general corporate purposes and to pay off a $10 million balance on its unsecured line of credit.