---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-302215"
form_type: "8-K"
ticker: "BRBS"
cik: "0000842717"
company_name: "BLUE RIDGE BANKSHARES, INC."
filed_at: "2023-12-22T23:59:59+00:00"
generated_at: "2026-06-07T08:36:27.691389+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Blue Ridge Bankshares to raise $150M via 60M shares and warrants at $2.50 per share

## Summary
- Gross proceeds of $150M from 60M shares and ~29.4M warrants at $2.50 each; warrants exercisable for 5 years.
- Kenneth R. Lehman to own ~25% and Castle Creek ~12.5% of pro forma common stock.
- Closing expected March 2024, subject to shareholder and regulatory approvals.
- Proceeds to reposition business lines, support organic growth, and enhance bank capital levels.
- Up to three new board representatives expected; asset resolution plan to address criticized assets.

## SEC filing metadata
- accession: 0001193125-23-302215
- form_type: 8-K
- ticker: BRBS
- cik: 0000842717
- company_name: BLUE RIDGE BANKSHARES, INC.
- filed_at: 2023-12-22T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842717/000119312523302215/0001193125-23-302215-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842717/000119312523302215/d47204d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-302215
- JSON: https://secwatch.observer/filing/0001193125-23-302215.json
- Plain text: https://secwatch.observer/filing/0001193125-23-302215.txt

## Key facts
- Material Agreements
  BLUE RIDGE BANKSHARES, INC. entered into Securities Purchase Agreement with Kenneth R. Lehman, Castle Creek Capital Partners VIII, L.P., other institutional investors and certain directors and executive officers valued at $150,000,000 (effective 2023-12-21).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Kenneth R. Lehman, Castle Creek Capital Partners VIII, L.P., other institutional investors and certain directors and executive officers
  - Value: $150,000,000
  - Effective: 2023-12-21
  source text: On December 21, 2023, Blue Ridge Bankshares, Inc. (the “Company”), entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with Kenneth R. Lehman, Castle Creek Capital Partners VIII, L.P. (“Castle Creek”), other institutional investors and certain directors and executive officers of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/842717/000119312523302215/0001193125-23-302215-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.