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Versabank ( (TSE:VBNK) ) has shared an announcement.
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VersaBank has announced the pricing of its public offering of 5,660,378 common shares at $13.25 per share, aiming to raise approximately $75 million. The proceeds are expected to enhance the bank’s capital base and support general banking purposes. The offering is subject to customary closing conditions, with Raymond James & Associates as the sole bookrunning manager, and the shares will be listed on Nasdaq and TSX. This move could strengthen VersaBank’s market position by expanding its capital and operational capabilities, potentially benefiting its stakeholders.
More about Versabank
VersaBank is a North American bank that operates with a branchless, digital, business-to-business model. It uses proprietary technology to serve underserved segments of the banking industry, focusing on electronic deposits and lending through financial intermediary partners. VersaBank offers its Receivable Purchase Program to the U.S. market and owns DRT Cyber Inc., providing cybersecurity services.
YTD Price Performance: 36.33%
Average Trading Volume: 42,931
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $389.6M
For detailed information about VBNK stock, go to TipRanks’ Stock Analysis page.