---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-161712"
form_type: "8-K"
ticker: "BRBS"
cik: "0000842717"
company_name: "BLUE RIDGE BANKSHARES, INC."
filed_at: "2024-06-14T23:59:59+00:00"
generated_at: "2026-06-01T04:29:40.520170+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Blue Ridge Bankshares raises $11.6M in private placement with insider Spurzem

## Summary
- On June 13, 2024, closed a private placement with shareholder Richard T. Spurzem for gross proceeds of ~$11.6M.
- Issued 290,000 common shares at $2.39/share, 1,140 Series B Preferred shares at $9,566.13 each, and a warrant for 607 Series B Preferred shares at $10,000/share.
- Securities were sold in an unregistered offering exempt under Section 4(a)(2) and Rule 506(b); a Registration Rights Agreement was also signed.
- The purchaser is an insider; the deal increases company equity and provides capital for general corporate purposes.
- Proceeds represent a significant funding event for the company, which trades on the NYSE American under BRBS.

## SEC filing metadata
- accession: 0001193125-24-161712
- form_type: 8-K
- ticker: BRBS
- cik: 0000842717
- company_name: BLUE RIDGE BANKSHARES, INC.
- filed_at: 2024-06-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842717/000119312524161712/0001193125-24-161712-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842717/000119312524161712/d810744d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-161712
- JSON: https://secwatch.observer/filing/0001193125-24-161712.json
- Plain text: https://secwatch.observer/filing/0001193125-24-161712.txt

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