Digital bank Forbright (FRBT.US) IPO priced at $18-20 per share, planning to raise $150 million.

Digital bank Forbright, focusing on business loans in the mid-market segment, announced the terms of its initial public offering (IPO) on Tuesday. The company plans to issue 7.9 million shares at a price range of $18 to $20 per share, raising approximately $150 million. The IPO is expected to be priced the week of June 8, 2026. Based on the midpoint of the offering price range, Forbright's fully diluted market value will be approximately $987 million. The company plans to list on NASDAQ under the ticker symbol "FRBT". Established in 2003, Forbright's history can be traced back to Congressional Bank. The company stated that it provides a modern financial services platform covering the entire United States, with operations including mid-market loans, digital consumer banking, strategic consulting, and asset management services. In the past 12 months ending March 31, 2026, the company generated revenue of $334 million.