05:36 AM EST, 12/17/2024 (MT Newswires) -- VersaBank ( VBNK ) said late Monday that it priced its public offering of about 5.7 million common shares at $13.25 per share for expected gross proceeds of $75 million.

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

The bank said it expects to use the net proceeds for general banking purposes.

The offering is expected to close on or about Wednesday, subject to applicable exchange approvals and customary closing conditions.

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