Commercial Bancgroup, Inc. (CBK), a Tennessee-based community bank holding company, upsized its IPO at pricing and priced the deal at $24.00 – below the $25.75-to-$27.75 range in the prospectus – to raise about $172.08 million on Wednesday night, Oct. 1, 2025. The IPO’s size was increased at pricing to about 7.17 million shares – up from about 3.74 million shares in the prospectus.
Commercial Bancgroup’s stock rose today in its NASDAQ debut – opening at $25.25 – up $1.25 from its $24.00 IPO price – at about 11:14 a.m. EDT on Thursday, Oct. 2, 2025, according to NASDAQ. The stock dipped below its IPO price at about 11:33 a.m. EDT and quickly recovered to trade above $24 again at around 11:34 a.m. EDT. Commercial Bancgroup’s stock was trading flat at $24.00 – its IPO price – at 3:13 p.m. EDT on NASDAQ volume of 512,890 shares. At the closing bell, Commercial Bancgroup’s stock was flat – ending its first NASDAQ trading session at $24.00, unchanged from its iPO price.
Hovde Group served as the sole book-runner.
Of the 7.17 million shares in the upsized IPO, Commercial Bancgroup sold about 1.46 million shares and certain selling shareholders sold about 5.71 million shares, the company said late Wednesday night, in a news release announcing the IPO’s pricing. Commercial Bancgroup said it will not receive any proceeds from the sale of the selling shareholders’ stock.
“Commercial will receive gross proceeds of approximately $35.0 million and intends to use the proceeds from the offering to repay certain Commercial indebtedness and redeem its outstanding subordinated debentures and related trust preferred securities, and to use the remaining proceeds, if any, for general corporate purposes,” Commercial Bancgroup said in the news release.
The company’s flagship, Commercial Bank, operates 34 bank offices in Kentucky, North Carolina and Tennessee, along with one loan production office, the prospectus said. Commercial Bank serves the Nashville, Knoxville and Tri-Cities Metropolitan Statistical Area. The bank also serves other counties in Tennessee, along with some counties in Southeast Kentucky and the Charlotte MSA in North Carolina.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.