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Bank of Botetourt Announces Final Results of Rights Offering
Bank of Botetourt Announces Final Results of Rights Offering.
About this update from Bank Of Botetourt (buchanan, Va)
[{"type":"text","content":"\n\n\n\nBank of Botetourt Announces Final Results of Rights Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBank of Botetourt Announces Final Results of Rights Offering\nPR Newswire\nBUCHANAN, Va., Nov. 8, 2022\n\n\n\nBUCHANAN, Va., Nov. 8, 2022 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today the results of its Series A Preferred Stock Rights Offering (\"Offering\"). Bank of Botetourt (\"Bank\") will issue 243,659 shares of its noncumulative, convertible, perpetual preferred stock as a result of the Offering, which closed on November 4, 2022 (the \"Expiration Date\").  This total includes all oversubscription orders which will be filled as subscribed. Gross proceeds, before any expenses of the Offering, are expected to total $6,822,452. \nAll of the Shares offered, sold or issued are exempt from the registration requirements of the Securities Act of 1933, as amended (the \"Securities Act\"), pursuant to Section 3(a)(2) of the Securities Act, and it is not necessary in connection with the offer, sale and delivery of the Shares to register the Shares under the Securities Act.\nThis press release does not constitute an offer to sell these securities or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Bank of BotetourtBank of Botetourt was chartered in 1899 and operates thirteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties, the City of Salem, and the Town of Vinton, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.  \nImportant Note Regarding Forward-Looking StatementsThis press release contains certain \"forward-looking statements\" as defined by federal securities law, including those identified by words such as \"anticipate,\...