Update: VersaBank Shares Drop After $75 Million Stock Offering Priced

MT Newswires Live

2024/12/18

(Updates with the stock movement in the headline and first paragraph.)

VersaBank (VBNK) shares fell 8.4% in recent Tuesday trading, a day after the company priced its public offering of 5.66 million common shares at $13.25 apiece for gross proceeds of $75 million.

The bank granted underwriters a 30-day overallotment option to buy up to an additional 15% of shares in the offering.

The offering is expected to close around Wednesday.

Price: 13.58, Change: -1.24, Percent Change: -8.37

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