Birmingham-Based Nexity Corp. to Go Public
By Alabama Public Radio
Birmingham, AL – An Alabama bank-holding company plans to go public in an initial offering of stock worth up to $25 million. Nexity Financial Corporation says it will use proceeds from the IPO to increase its capital to support future growth and expansion and for general corporate purposes. Details about the number of shares to be offered and an estimated price range for the IPO were not disclosed in Monday's filing with the Securities and Exchange Commission. The shares are expected to list on the Nasdaq Stock Market under the symbol NXTY. Nexity is based in Birmingham.