Business
VersaBank Announces Exercise of Over-Allotment Option in Public Offering
VersaBank Announces Exercise of Over-Allotment Option in Public Offering PR New...
About this update from Versabank
[{"type":"text","content":"\n \n \n \n VersaBank Announces Exercise of Over-Allotment Option in Public Offering\n \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 \n PR Newswire\n \n \n \n \n \n LONDON, ON\n \n ,\n \n Sept. 29, 2021\n \n /PRNewswire/ - VersaBank (\"VersaBank\" or the \"Bank\") today announced that the underwriters of its previously announced public offering of common shares have fully exercised their option to purchase an additional 825,000 shares at a price of US\n \n $10.00\n \n per share, the equivalent of CAD\n \n $12.68\n \n per share based on the Bank of\n \n Canada\n \n exchange rate at the time of the exercise, resulting in an additional gross proceeds of US\n \n $8,250,000\n \n . The sale of the additional shares closed today. After giving effect to the full exercise of the over-allotment option, the total number of shares sold by VersaBank in the public offering increased to 6,325,000 shares and gross proceeds increased to US\n \n $63,250,000\n \n .\n \n \n \n \n \n \n \n \n \n The offering was conducted through a syndicate of underwriters led by\n \n Raymond James\n \n & Associates, Inc. as sole bookrunning manager and Keefe, Bruyette & Woods, Inc., as co-manager and includes their respective Canadian broker dealer affiliates.\n \n \n No securities regulatory authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.\n \n \n \n About VersaBank:\n \n \n VersaBank is a Canadian Schedule I chartered bank with a difference. VersaBank became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market...