Item 1.02. Termination of a Material Definitive Agreement.
As previously disclosed, on July 14, 2021, FVCBankcorp, Inc. (the "Company")
entered into an Agreement and Plan of Reorganization (the "Merger Agreement")
with Blue Ridge Bankshares, Inc. ("BRBS"). Pursuant to the terms of the Merger
Agreement, and subject to the conditions therein, the Company would be merged
with and into BRBS.
On January 20, 2022, the Company and BRBS entered into a Mutual Termination
Agreement (the "Termination Agreement") pursuant to which the parties mutually
agreed to terminate the Merger Agreement. Each party will bear its own costs and
expenses in connection with the terminated transaction, and neither party will
pay a termination fee in connection with the termination of the Merger
Agreement. The Termination Agreement also mutually releases the parties from any
claims of liability to one another relating to the merger transaction.
The foregoing descriptions of the Merger Agreement and the Termination Agreement
do not purport to be complete and are qualified in their entirety by reference
to the full text of the Merger Agreement, which was previously filed as
Exhibit 2.1 to the Company's Current Report on Form 8-K filed on July 15, 2021,
and the full text of the Termination Agreement, which is attached hereto as
Exhibit 10.1 and is incorporated by reference herein.
On January 20, 2022, FVCB and BRBS issued a joint press release relating to the
Termination Agreement, a copy of which is filed as Exhibit 99.1 hereto and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Mutual Termination Agreement, dated as of January 20, 2022,
between Blue Ridge Bankshares, Inc. and FVCBankcorp, Inc.
99.1 Joint Press Release, dated January 20, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
© Edgar Online, source Glimpses