The shares are listed on the Nasdaq Global Select Market

Davis Polk advised the representatives of the several underwriters in connection with the initial public offering of 2,610,000 shares of common stock of Avidbank Holdings, Inc., at $23.00 per share, for total gross proceeds of approximately $60 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “AVBH.”

Avidbank Holdings, headquartered in San Jose, California, offers innovative financial solutions and services. It specializes in commercial and industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending.

The Davis Polk capital markets team included partner Shane Tintle and associate Kanger Jin. Partner David L. Portilla and associate Lucas Siegmund provided financial institutions advice. Partner Aliza Slansky and associate Valentin Van de Walle provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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