Blue Ridge Bankshares (BRBS) Registration Filing summary

Company overview and business model

• Bank holding company headquartered in Richmond, VA, operating through Blue Ridge Bank and BRB Financial Group, offering commercial and consumer banking, mortgage, wealth, and trust services across Virginia and North Carolina.

• Provides a broad suite of financial products including loans, deposit accounts, investment services, and trust management to businesses, professionals, consumers, nonprofits, and municipalities.

• Operates 27 full-service banking offices and 5 mortgage offices as of June 30, 2024.

Financial performance and metrics

• Raised $150 million in gross proceeds from a private placement in April 2024 and $11.6 million from a subsequent placement in June 2024.

• As of June 30, 2024, 73,503,647 shares of common stock were outstanding, with significant ownership concentration among a few shareholders.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling shareholders; proceeds from warrant exercises (if exercised for cash) will be used for general corporate purposes, repositioning business lines, supporting organic growth, and enhancing bank capital levels.

• No proceeds will be received if warrants are exercised via cashless exercise.