Parkway Bancorp raises $338.9 million in Rule 506(b) private placement
Parkway Bancorp Inc., a Delaware corporation engaged in commercial banking, completed a private placement of equity and options under SEC Rule 506(b) with $338,923,733 sold to 64 investors as of the filing date, representing 85% of the $400,000,000 target offering. Keefe, Bruyette & Woods, Inc. served as placement agent and received $12,300,000 in compensation. The minimum investment was $150,000 per investor, with the first sale occurring on May 27, 2026.
Key facts
- $338,923,733 sold to date (85% of $400,000,000 target)
- 64 investors; $150,000 minimum investment
- Keefe, Bruyette & Woods, Inc. placement agent; $12,300,000 compensation
- Rule 506(b) exemption claimed
- First sale date: May 27, 2026
- $61,076,267 remaining unallocated
Why it matters
The placement is substantially oversubscribed relative to its target, signaling strong institutional demand for Parkway Bancorp's equity and indicating the company's ability to raise capital at favorable terms during the offering period.
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Derived from D filed 2026-07-17. Not investment advice. View the source filing on SEC.gov →