FinWise Bancorp Closes Initial Public Offering of Common Shares | New

MURRAY, Utah, November 23, 2021 (GLOBE NEWSWIRE) – FinWise Bancorp (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced that it has completed its IPO of ” a total of 4,025,000 common shares at a public offering price of $ 10.50 per share, of which 525,000 common shares were sold pursuant to the underwriters’ over-allotment option, which was exercised in full. The placement is expected to earn the Company gross proceeds of approximately $ 42.3 million. The net proceeds to the Company, after deducting the estimated subscription discount and offering costs, are expected to be approximately $ 35.6 million. The Company’s shares began trading on November 19, 2021 on the Nasdaq Global Market under the symbol “FINW”.

Piper Sandler & Co. and Stephens Inc. acted as co-book managers for the offering. Kramer Levin Naftalis & Frankel LLP and Kirton McKonkie PC represented the company in the offer. The underwriters were represented by Hunton Andrews Kurth LLP.

The offer was made only by means of a prospectus. Copies of the final prospectus relating to the offering can be obtained from Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, or by calling (800) 747-3924, or by sending an email [email protected] or Stephens Inc., PO Box 3507, Little Rock, Arkansas 72203, or by calling (800) 643-9691 or sending an email [email protected]. Copies of the registration statement relating to these securities and the final prospectus are also available free of charge from the website of the United States Securities and Exchange Commission (the “SEC”) at

A registration statement on Form S-1 (File No. 333-257929) relating to these securities was declared effective by the SEC on November 18, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to purchase. , nor will there be any sale of Common Shares in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of that State. State or jurisdiction. The common shares offered under the initial public offering will not be insured by the Federal Deposit Insurance Corporation or any other government agency.

About FinWise Bancorp

FinWise Bancorp is a Utah banking holding company headquartered in Murray, Utah. FinWise operates through its wholly owned subsidiary, FinWise Bank, a non-member chartered bank in the state of Utah. FinWise currently operates a full-service banking facility in Sandy, Utah, and a loan production office in Rockville Center, New York. FinWise is a national lender and accepts deposits from consumers and small businesses.

Caution Regarding Forward-Looking Statements

This press release includes “forward-looking statements”, including with respect to the Company’s initial public offering. Words such as “believes”, “intends”, “expects”, “plans”, “anticipates” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the uncertainties inherent in predicting future results and conditions and no assurance can be given that the proposed securities offering discussed above will be completed under the conditions described or not at all. The completion of the proposed securities offering and the terms thereof are subject to many factors, many of which are beyond the control of the Company, including, without limitation, market conditions, – compliance with customary closing conditions and other risks detailed in “Caution Regarding Forward-Looking Statements”, “Risk Factors” and other sections of the registration statement filed with the SEC. All forward-looking statements presented here are made only as of the date of this press release, and the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. , unless required by law.

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