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Stock impact report

Blue Ridge Bankshares, Inc. Announces the Signing, Closing and Funding of Amended and Restated Definitive Purchase Agreements for $150 Million in a Private Placement of Common and Preferre...

Blue Ridge Bankshares, Inc. (BRBS) 
Company Research Source: Yahoo! Finance
CHARLOTTESVILLE, Va. April 3, 2024 /PRNewswire/ -- Blue Ridge Bankshares, Inc. (the "Company" or " Blue Ridge ") (NYSE American: BRBS), the holding company of Blue Ridge Bank, National Association ("Blue Ridge Bank") and BRB Financial Group, Inc. ("BRB Financial Group"), has closed on definitive securities purchase agreements for gross proceeds of ,000,000 in a private placement of Blue Ridge's common and preferred stock (the "Private Placement"). This Private Placement supersedes and replaces the $150 million purchase, offering and sale of Blue Ridge common stock that was announced on December 22, 2023 (the "Previous Transaction"), for which all closing conditions were not satisfied. Blue Ridge intends to use the capital to propel its near-term strategic initiatives, which include repositioning business lines, supporting organic growth, and further enhancing the core community bank's capital levels, including complying with the capital ratios set forth in the previously disclose Show less Read more
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