VERSABANK ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION IN PUBLIC OFFERING
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VersaBank announced that underwriters have fully exercised their over-allotment option in its public offering, selling an additional 849,056 common shares at $13.25 each, raising $11.25 million in gross proceeds.
December 24, 2024 | 5:15 pm
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VersaBank's underwriters exercised their over-allotment option, selling additional shares and raising $11.25 million, which may impact the stock price.
The full exercise of the over-allotment option indicates strong demand for VersaBank's shares, which could stabilize or slightly increase the stock price. However, the increase in share supply might offset this, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100