Virginia Heritage Bank VGBK announced today that it has priced
its underwritten public offering of 1,450,000 shares of its common stock
at a price to the public of $14.25 per share, for gross proceeds of
$20.7 million. The net proceeds to the Bank after deducting the
underwriting discount and estimated offering expenses are expected to be
approximately $19.1 million. The Bank expects to use the net proceeds of
the offering for general corporate purposes, including the funding of
organic loan growth, investment in securities and the potential pursuit
of strategic acquisition opportunities.
See full press release
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