02:26 PM EST, 12/18/2024 (MT Newswires) -- VersaBank ( VBNK ) on Wednesday said it completed its previously announced bought-deal share offering, raising $107.3 million.

The company sold underwriters 5.66-million shares priced at US$13.25 each.

The company expects proceeds from the offering to be used for general banking purposes and said it will qualify as common equity tier 1 capital for VBNK.

VersaBank ( VBNK ) said it granted the underwriters a 15% over-allotment option, exercisable until Jan. 15.

Share of the company were last seen up $0.15 to $19.62 on the Toronto Stock Exchange.

Price: 19.62, Change: +0.15, Percent Change: +0.77