VersaBank Completes Successful Public Offering

LONDON, ON, Dec. 18, 2024 /PRNewswire/ – VersaBank (NASDAQ: VBNK) (TSX: VBNK) has announced the completion of its public offering of common shares

VersaBank has successfully completed its previously announced public offering of common shares at a price of US$13.25 (approximately CAD$18.95) per share. The Offering saw an aggregate of 5,660,378 common shares being sold by the Bank, resulting in gross proceeds of US$75,000,009 (approximately CAD$107,287,513) before underwriting discounts and offering costs.

The Base Shelf Prospectus and the Prospectus Supplement

The Base Shelf Prospectus and the Prospectus Supplement related to this offering are accessible on SEDAR+ and on EDGAR for further details.

How This Will Affect Me

As a potential investor, this successful public offering by VersaBank indicates investor confidence in the Bank’s performance and growth prospects. The influx of funds from the offering could potentially enable VersaBank to expand its operations, launch new initiatives, or invest in technological innovations that may benefit its customers.

How This Will Affect the World

On a larger scale, successful public offerings such as this one can contribute to the overall stability and growth of the financial market. Institutions like VersaBank play a crucial role in the economy by providing financial services, facilitating investments, and driving economic development.

Conclusion

VersaBank’s completion of its public offering marks a significant milestone for the Bank and reflects positively on its future prospects. The successful raising of funds demonstrates investor confidence and may lead to further growth and development opportunities for VersaBank in the future.