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VersaBank Priced, Nasdaq: VBNK

Canadian digital bank.

Industry: Financials

Latest Trade: $11.05 0.00 (0.0%)

First Day Return: +5.0%

Return from IPO: +10.5%

Industry: Financials

VersaBank is a Canadian Schedule I chartered bank that has successfully leveraged its commitment to innovation to develop an efficient and effective technology-driven business-to-business banking business model that has facilitated VersaBank’s becoming one of the world’s first fully digital financial institutions. In our digital banking operations, we conduct our deposit gathering and loan origination activities predominantly through technology-enabled electronic deposit and lending solutions for financial intermediaries that we believe enable these intermediaries to excel in their core businesses. We seek to profitably and prudently address underserved segments of the Canadian and U.S. financial service markets by developing and providing innovative, technology-based deposit taking and lending solutions that enable lower-cost funding and lower-risk lending than we could otherwise achieve, in the pursuit of attractive risk-adjusted returns. Our lending business has a particular focus on point-of-sale financing. We have grown our point-of-sale loan and lease portfolio in Canada to U.S.$918 million as of July 31, 2021 by addressing an unmet market need and believe the opportunity exists to address a similar unmet need in the United States, in which the market is estimated to grow to U.S.$1.8 trillion.
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IPO News for VersaBank
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IPO Data
IPO File Date 09/13/2021
Offer Price $10.00
Price Range $10.00 - $10.00
Offer Shares (mm) 5.5
Deal Size ($mm) $55
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 09/21/2021
Offer Price $10.00
Price Range $10.00 - $10.00
Offer Shares (mm) 5.5
Deal Size ($mm) $55
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters London, Canada
Founded 1993
Employees 92
Website www.versabank.com