---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-158758"
form_type: "8-K"
ticker: "BRBS"
cik: "0000842717"
company_name: "BLUE RIDGE BANKSHARES, INC."
filed_at: "2024-06-11T23:59:59+00:00"
generated_at: "2026-06-01T05:12:13.997568+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Blue Ridge Bankshares raises ~$11.6M in private placement with shareholder Richard Spurzem

## Summary
- Gross proceeds of ~$11.6M from sale of 290,000 common shares ($2.39/share), 1,140 Series B preferred shares ($9,566.13/share), and a warrant.
- Placement exercises gross-up rights by shareholder Richard T. Spurzem under 2014/2015 stock purchase agreements.
- Proceeds for general corporate purposes, repositioning business lines, organic growth, and enhancing subsidiary bank capital.
- Closing expected June 12, 2024, subject to NYSE American listing authorization of common shares.
- Conversion of preferred and warrant shares requires shareholder approval to increase authorized common stock to 150M and listing approval.

## SEC filing metadata
- accession: 0001193125-24-158758
- form_type: 8-K
- ticker: BRBS
- cik: 0000842717
- company_name: BLUE RIDGE BANKSHARES, INC.
- filed_at: 2024-06-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842717/000119312524158758/0001193125-24-158758-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842717/000119312524158758/d828101d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-158758
- JSON: https://secwatch.observer/filing/0001193125-24-158758.json
- Plain text: https://secwatch.observer/filing/0001193125-24-158758.txt

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