BUCHANAN, Va., Oct. 18, 2018 – — Bank of Botetourt (OTCPK: BORT) (the “Bank”) announced today it has commenced an offering of up to a maximum of 275,000 shares of its common stock at a price of $30 per share. If the maximum number of shares is sold and issued, the gross proceeds will be $8.25 million. The shares are being offered on a best efforts basis by authorized representatives of Bank of Botetourt to current shareholders of record and “street name” shareholders.
Raymond James & Associates, Inc. (“Raymond James“) is serving as the placement agent for this offering. After the Bank completes the offering to current shareholders, Raymond James will offer the shares to institutional investors on a best efforts basis.
The offer and sale of the Bank’s common stock is exempt from the registration requirements of the federal Securities Act of 1933. The offering is being made pursuant to an offering circular and supplemental information mailed to existing shareholders of record as of October 12, 2018. Prospective investors should read the circular and related documents for complete information about the Bank and the offering. These documents may be obtained at no charge by emailing your request to email@example.com.
This press release does not constitute an offer to sell these securities or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Bank of Botetourt:
Bank of Botetourt was chartered in 1899 and operates twelve retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties and the City of Salem, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.
Important Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” as defined by federal securities law, including those identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” ‘intend,” “may,” “plan,” “potential,” “project” and other similar expressions and variations. These forward-looking statements contain the Bank’s expectations, plans, future financial performance, and other statements that are not historical facts. Although the Bank believes that its assumptions regarding these forward-looking statements are based on reasonable assumptions, actual results of performance could differ materially and are not guaranteed. You are encouraged to review the risks, uncertainties, and other factors that affect the Bank’s business and results of operations and an investment in its common stock that are detailed under the heading “Risk Factors” in the offering circular. These risks and inherent uncertainties should be considered in evaluating forward-looking statements contained in this report. We caution readers not to place undue reliance on those statements, which are specific as of the date of the press release. The Bank undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Bank of Botetourt