Avenue Financial registers to sell $30 million of common shares

Company plans to list stock on Nasdaq under symbol “AVNU”

By Susanna Moon

Chicago, Jan. 9 – Avenue Financial Holdings, Inc. said it registered to sell $30 million of shares in an initial public offering.

Keefe, Bruyette & Woods, Inc. is the underwriter, according to an S-1 filing with the Securities and Exchange Commission.

Proceeds will be used to redeem in full all of the company’s outstanding series C preferred stock, which currently has a dividend rate of 1% that will increase to 9% on March 15, 2016, and for general corporate purposes.

The company has applied to list its common stock on the Nasdaq under the symbol “AVNU.”

Avenue Financial is a bank holding company for Avenue Bank based in Nashville, Tenn.

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