Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Blue Ridge Bankshares, Inc. (“Blue Ridge” or the “Company”) (NYSE: BRBS) with Bay Banks of Virginia, Inc. (“Bay Banks”) (OTC: BAYK). Under the terms of the merger, Bay Banks shareholders will receive 0.50 shares of Blue Ridge common stock for each share of Bay Banks common stock they own. Upon completion of the merger, Bay Banks shareholders will own approximately 54% and Blue Ridge shareholders will own approximately 46% of the combined company.
The Blue Ridge merger investigation concerns whether the Board of Blue Ridge has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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