Square 1 Financial, Inc. Announces Launch of Roadshow for an Initial Public Offering

DURHAM, N.C.--()--Square 1 Financial, Inc. ("Square 1") today announced that it plans to commence a road show on March 17, 2014 for the proposed initial public offering of shares of its Class A common stock. Square 1 has filed a registration statement with the Securities and Exchange Commission to offer 3,125,000 shares of its Class A common stock to the public. Selling shareholders are offering 2,306,126 shares of Class A common stock and 450,000 shares of Class B common stock, which will convert into 450,000 shares of Class A common stock upon sale in the offering. Square 1 will not receive any proceeds from sales by the selling shareholders. The initial public offering price is currently expected to be between $15.00 and $17.00 per share. The underwriters have an option to purchase an additional 882,167 shares of common stock at the initial public offering price less the underwriting discount, within 30 days from the date of the offering. Of the 882,167 shares subject to the underwriters’ option, 468,750 shares will be offered by the Company and 413,417 shares will be offered by the selling shareholders. An application has been made to list the Class A common stock of Square 1 on the NASDAQ Global Market under the symbol "SQBK."

Square 1 intends to use the net proceeds generated by this offering to support its long-term growth by enhancing capital ratios in light of Basel III, and for general working capital and other corporate purposes.

Sandler O'Neill & Partners, L.P. is acting as lead book-running manager, and Keefe, Bruyette & Woods, a Stifel Company, will serve as joint book-running manager.

The offering of Class A and Class B common stock will be made only by means of a prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, a copy of the preliminary prospectus relating to the proposed initial public offering may be obtained from:

Sandler O'Neill + Partners, L.P.
Prospectus Department
1251 Avenue of the Americas, 6th Floor,
New York, New York 10020
Phone: 1-866-805-4128
Email: syndicate@sandleroneill.com

Keefe, Bruyette & Woods, Inc.
Attn: Capital Markets
787 Seventh Avenue, 4th Floor
New York, NY 10019
Phone: 1-800-966-1559

About Square 1

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise and focus provide flexible resources, tailored solutions and high-touch support to meet our clients’ needs. The Bank provides loans, deposits, treasury management services and investment advisory services. The Square 1 team consists of 240 employees in 11 offices located in key innovation markets across the country.

Forward-Looking Statements

This press release includes "forward-looking statements," including with respect to the proposed initial public offering and the company's proposed use of proceeds. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Contacts

Square 1 Bank
Dee McDougal, 919-597-7479
dmcdougal@square1bank.com

Release Summary

Square 1 Financial, Inc. today announced that it plans to commence a road show on March 17, 2014 for the proposed initial public offering of shares of its Class A common stock.

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Contacts

Square 1 Bank
Dee McDougal, 919-597-7479
dmcdougal@square1bank.com