Avenue Financial Holdings, Inc. Files Registration Statement for Proposed Initial Public Offering

NASHVILLE, Tenn.--()--Avenue Financial Holdings, Inc. (“Avenue Financial” or “the Company”) announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The registration statement filed today represents Avenue Financial’s initial public filing pursuant to the provisions of the Jumpstart Our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Avenue Financial has applied to list its common stock on the NASDAQ Global Market under the ticker symbol “AVNU.”

Keefe, Bruyette & Woods, Inc. is acting as sole book-running manager in the proposed offering. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained, when available, from Keefe, Bruyette & Woods, A Stifel Company, 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling toll-free at 1-(800)-966-1559.

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, 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.

About Avenue Financial Holdings, Inc.

Avenue Financial Holdings, Inc., headquartered in Nashville, Tennessee, was formed as a single-bank holding company in 2006 and operates primarily through its subsidiary, Avenue Bank. The Company’s operations are concentrated in the Nashville MSA, with the vision of building Nashville’s signature bank and serving clients who value creativity, expertise, and an exceptional level of personal service. Avenue Bank embodies Nashville’s creative spirit - redefining how clients experience banking through a unique “Concierge Banking” model. The bank today has over 130 employees and over $970 million in total assets, providing a wide range of business and personal banking services, including mortgage loans, with a special emphasis on Commercial, Private Client, Healthcare, and Music & Entertainment banking. The company serves clients through five locations (a corporate headquarters and four retail branches), a limited deposit courier service (mobile branch) for select commercial clients, and mobile and online banking services.

Forward-Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties, including, among other things, that Avenue Financial Holdings, Inc. will not complete the proposed offering. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given as to the value of Avenue Financial Holdings, Inc. common stock, the price at which its common stock may be offered in the proposed offering, the trading price of such common stock after the proposed offering or whether a liquid market for such common stock will develop or be maintained. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in business plans as circumstances warrant; changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U.S. economy; significant competition that our operating subsidiary faces; compliance with extensive government regulation of our operating subsidiary; and other risks detailed in the “Forward-Looking Statements,” “Risk Factors” and other sections of Avenue Financial Holdings, Inc.’s Registration Statement on Form S-1 and other filings with the Securities and Exchange Commission.

Contacts

Avenue Financial Holdings, Inc.
Barbara J. Zipperian, 615-736-7786
Chief Financial Officer