London, Ontario-based VersaBank completed its merger with its majority owner, PWC Capital Inc., after receiving the requisite regulatory and securityholders approvals.
Before the deal's completion, PWC Capital completed the redemption of its 7.5% notes maturing March 31, as well as its nonvoting, nonparticipating class A preferred shares for cash, effective Jan. 27, and Jan. 30, respectively.
VersaBank common shares have been approved for listing on the Toronto Stock Exchange, set to start trading on or about Feb. 2, at market open. The PWC common shares, PWC class B preferred shares and PWC series C notes will be delisted from the TSX on or about Feb. 1, at market close. The PWC nonparticipating class A preferred shares were delisted from the TSX at market close Jan. 30.