<SEC-DOCUMENT>0001829126-25-004965.txt : 20250929
<SEC-HEADER>0001829126-25-004965.hdr.sgml : 20250929
<ACCEPTANCE-DATETIME>20250709123538
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001829126-25-004965
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Avidbank Holdings, Inc.
		CENTRAL INDEX KEY:			0001443575
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		1732 N. 1ST STREET, 6TH FLOOR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95112
		BUSINESS PHONE:		408-200-7390

	MAIL ADDRESS:	
		STREET 1:		1732 N. 1ST STREET, 6TH FLOOR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENINSULA BANK HOLDING CO
		DATE OF NAME CHANGE:	20080821
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="image_001.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Craig D. Miller</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Manatt, Phelps&nbsp;&amp; Phillips, LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Direct Dial: (415) 291-7415</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">cmiller@manatt.com</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">July 9, 2025</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CONFIDENTIAL DRS CORRESPONDENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission<BR>
Division of Corporate Finance<BR>
100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Avidbank Holdings, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Amendment No. 2 to Draft Registration Statement on Form&nbsp;S-1</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>CIK No. 0001443575</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of our client, Avidbank
Holdings, Inc. (the &ldquo;<B>Company</B>&rdquo;), we hereby file Amendment No. 2 to the Company&rsquo;s Draft Registration Statement
on Form&nbsp;S-1 (the &ldquo;<B>DRS Amendment No. 2</B>&rdquo;). DRS Amendment No. 2 is filed to respectfully provide responses to comments
(the &ldquo;<B>Comments</B>&rdquo;) of the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;)
issued in a letter dated July 2, 2025 (the &ldquo;<B>Staff&rsquo;s Letter</B>&rdquo;) relating to the Company&rsquo;s Amendment No. 1
to Draft Registration Statement on Form&nbsp;S-1 as submitted with the Commission on June 3, 2025 (the &ldquo;<B>DRS Amendment No. 1</B>&rdquo;)
and to update certain information contained in the DRS Amendment No. 1. In order to facilitate your review, we have responded, on behalf
of the Company, to each of the Comments set forth in the Staff&rsquo;s Letter, on a point by point basis. The Comments are set forth below
in bold font and our response follows each respective Comment. Terms used but not defined herein have the respective meanings assigned
thereto in DRS Amendment No. 2. A separate redline of the DRS Amendment No. 2 reflecting all changes to the DRS Amendment No. 1 is included
for your reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Amendment No. 1 to Draft Registration Statement
on Form&nbsp;S-1 filed on June 3, 2025</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Summary, page 1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We note the response to prior comment 12 and the pie chart on page 7. With a view to clarifying disclosure,
advise us of the extent to which borrowers may fall under more than one of the following three categories: Venture Lending, Specialty
Finance and Corporate Banking. If material, to provide context for the concentration in loan and borrower characteristics, further clarify
how you determine which category to use. For example, we note technology companies appear to be borrowers in all three categories, but
it is unclear if the only distinguishing characteristic for technology companies in the Venture Lending group is that they are VC-backed.
Alternatively, it is unclear if it is sufficient for them to meet the revenue and profitability characteristics (&ldquo;negative operating
cash flows and no record of profitability&rdquo;) without being VC-backed. It is also unclear if there are any technology companies in
the Specialty Finance or Corporate Banking groups that could be &ldquo;early-stage, growth- stage [or] late-stage technology companies.&rdquo;</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s Comment, the DRS Amendment No.1 has been revised on pages 12-13 and pages 105-107 to clarify that the Company categorizes
loans to its respective Banking Divisions based on product type and source of repayment. The Company further confirms that it believes
the nature of its clients&rsquo; business and stages of business are not material to the categorization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: Avidbank Holdings, Inc.; Amendment No. 2 to Draft Registration
Statement on Form S-1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">July 9, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;2 of <B>2</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Specialty Finance Division, page 103</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note the revised disclosure that you continue to shift the mix of Venture Lending clients to a larger
concentration of expansion and later stage venture companies, &ldquo;which are typically approaching or have achieved positive operating
cash flows.&rdquo; If material, please further clarify the extent of this trend by, for example, providing an approximate percentage of
Venture Lending clients that have achieved positive operating cash flows as compared to the previous financial statement period.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Response</B>: In response to the
Staff&rsquo;s Comment, the Company respectfully confirms that it believes the shifts and developments of its Venture Lending clients&rsquo;
business are not material to its Venture Lending division. The DRS Amendment No.1 has also been amended on pages 13 and 106 to clarify
that the Company&rsquo;s Venture Lending clients typically rely on future rounds of investment funding for loan repayments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Should you have any questions
regarding the foregoing responses or additional comments regarding DRS Amendment No. 2, please do not hesitate to contact Craig Miller
at 415.291.7415 or Veronica Lah at 310.312.4130.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Craig D. Miller</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Craig D. Miller</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">cc:</TD><TD STYLE="text-align: justify">Avidbank Holdings, Inc.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Manatt, Phelps&nbsp;&amp; Phillips, LLP One Embarcadero
Center, 30th&nbsp;Floor, San Francisco, California 94111</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Tel: 415.291.7400 Fax: 415.291.7474</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Albany | Boston | Chicago | Los Angeles | New York
| Orange County | Sacramento | San Francisco | Silicon Valley | Washington, D.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
