Blue Ridge Bankshares Files 8-K: Material Agreement & Equity Sales

TL;DR

BRBS filed an 8-K for a material agreement and equity sales - details pending.

AI Summary

Blue Ridge Bankshares, Inc. announced on June 7, 2024, the entry into a material definitive agreement. The company also reported on unregistered sales of equity securities and filed financial statements and exhibits. Specific details regarding the agreement, sales, or financial figures were not provided in this excerpt.

Why It Matters

This filing indicates significant corporate activity, including a material definitive agreement and equity sales, which could impact the company's financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing mentions a material definitive agreement and unregistered sales of equity securities, which can introduce financial and operational risks if not managed properly.

Key Numbers

• 001-39165 — SEC File Number (Identifies the company's filing with the SEC.)
• 54-1838100 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• BLUE RIDGE BANKSHARES, INC. (company) — Registrant
• Virginia (jurisdiction) — State of Incorporation
• Richmond (location) — Principal Executive Offices City

FAQ

Key Financial Figures

• $2.50 — "Common Stock"), at a purchase price of $2.50 per share, (ii) 11,418 shares of the Co
• $50.00 — al Preferred Stock, Series B, par value $50.00 per share (the "Series B Preferred Stoc
• $10,000.00 — eferred Stock"), at a purchase price of $10,000.00 per share, (iii) 2,732 shares of the Co
• $150,000,000 — e, for gross proceeds to the Company of $150,000,000 (the "April Issuance"). The Company i
• $2.39 — "Common Shares") at a purchase price of $2.39 per Common Share, 1,140 shares of Serie
• $9,566.13 — ferred Shares"), at a purchase price of $9,566.13 per Preferred Share, and a warrant to p
• $11.6 million — roceeds to the Company of approximately $11.6 million (the "Private Placement"). The closin

Filing Documents

• d828101d8k.htm (8-K) — 48KB
• d828101dex101.htm (EX-10.1) — 585KB
• 0001193125-24-158758.txt ( ) — 902KB
• brbs-20240607.xsd (EX-101.SCH) — 3KB
• brbs-20240607_lab.xml (EX-101.LAB) — 18KB
• brbs-20240607_pre.xml (EX-101.PRE) — 11KB
• d828101d8k_htm.xml (XML) — 4KB

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K contains forward-looking statements, including statements regarding the Company's plans for raising capital, the expected use of proceeds from the Private Placement, the filing of a registration statement to register the resale of the Common Shares, the Underlying Preferred Shares and the Warrant Shares, and the Company's business strategies, plans and prospects. All statements, other than statements of historical facts, contained in this Current Report on Form 8-K are forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and 5 are typically identified with words such as "may," "could," "should," "will," "would," "believe," "anticipate," "estimate," "expect," "aim," "intend," "plan," or words or phrases of similar meaning. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements. The forward-looking statements are based on management's current expectations, estimates and projections and are not guarantees of future performance. The Company cautions that the forward-looking statements are based largely on its expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. The forward-looking statements contained in this Current Report on Form 8-K are subject to risks and uncertainties, including those described in the Company's Annual Report on Form 10-K for the period ended December 31, 2023 and from time to time other filings with the SEC, which are available on the SEC's website (http://www.sec.gov). Stockholders of the Company are cautioned not to place undue reliance on the Company's forward-looking statements, which speak only as of the date such st

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Form of Securities Purchase Agreement, dated June 7, 2024, by and between Blue Ridge Bankshares, Inc. and Richard T. Spurzem. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 7

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLUE RIDGE BANKSHARES, INC. Date: June 11, 2024 By: /s/ Judy C. Gavant Judy C. Gavant Executive Vice President and Chief Financial Officer 8

View Full Filing

View this 8-K filing on SEC EDGAR