secwatch.observer — SEC 8-K summary
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Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001193125-24-086088
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Ridge Bankshares closes $150M private placement after shareholder vote issue
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- Closed $150M private placement of 3.4M common shares at $2.50, convertible preferred, and warrants.
- Transaction replaces Dec 2023 offering that failed due to vote tabulation error on share authorization.
- Proceeds to bolster capital, comply with OCC consent order, and support organic growth.
- Series B preferred converts to common upon shareholder approval of share authorization increase to 150M shares.
- Up to three new investor-appointed directors to join board upon regulatory OK; board to shrink to 13.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000119312524086088/0001193125-24-086088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000119312524086088/d820926d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-086088

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