NEW YORK — Alerus rang the Nasdaq stock market opening bell Monday morning, July 29 in Times Square, New York City, celebrating five years since the company went public.
Ringing the bell was Alerus Financial Corporation President and CEO Katie Lorenson, who was met with a rain of confetti after signaling the market to open.
“I’m incredibly proud of our team and their dedication to providing personalized, valued financial guidance to thousands of clients every day,” Lorenson said at the ceremony.
The company became publicly traded through Nasdaq in 2019. In celebration of its five years on the market, Lorenson and the Alerus executive team appeared on Nasdaq’s
. The opening bell ringing event, along with the closing bell later in the afternoon, is a ceremonial procedure for companies to appear before a global audience and showcase their achievements.
This is the first time Alerus has participated in Nasdaq’s bell-ringing ceremony.
“Congratulations on your five-year listing anniversary,” Nasdaq Vice President of Listings David Wix said to Lorenson before handing her an award. “Know that you’re going to be back to celebrate more milestones.”
Alerus announced its decision to go public in September 2019, offering 3.25 million shares of its common stock. Stock prices on Sept. 6, 2019, sat at $21.90. After much stock market tumult between then and now, the price as of July 29 was $22.29.
Alerus, headquartered in downtown Grand Forks, was founded in 1985, and has since expanded into Minnesota and Arizona with full-service banking offices and into all 50 states with its retirement and benefits services.
“Success is never final,” Lorenson said. “We remain focused on constantly improving and continuing the long term success of our company for our shareholders and for our clients.”
Logan Anderson is a reporting intern for the Grand Forks Herald.