Burke & Herbert Financial Services Corp. Submits Nasdaq Capital Market® Application and Files Form 10 with the U.S. Securities and Exchange Commission
Burke & Herbert Financial Services Corp. (OTCPK: BHRB) announced on March 2, 2023, that it has applied to list its common stock on the Nasdaq Capital Market and submitted a Registration Statement on Form 10 with the SEC. This move is part of the Company's overall strategy to enhance access to capital, increase trading volume, and provide better liquidity for shareholders. The Form 10 filing includes the Company's historical financial data and strategy. Approval for the Nasdaq listing is contingent upon meeting Nasdaq's requirements and SEC registration. Until then, shares will continue to be traded on the OTCPK Market.
- Submission of application to list on Nasdaq could enhance market visibility.
- Filing of Form 10 may provide investors with detailed financial information.
- Approval and timing of the Nasdaq listing are uncertain and contingent on regulatory requirements.
- Until listing is approved, common shares will remain on the less visible OTCPK market.
ALEXANDRIA, Va., March 2, 2023 /PRNewswire/ -- Burke & Herbert Financial Services Corp. (the "Company") (OTCPK: BHRB), the bank holding company for Burke & Herbert Bank & Trust Company, announced that it submitted an application to list its common stock on the Nasdaq Capital Market®. The Company also filed a Registration Statement on Form 10 (the "Form 10") with the U.S. Securities and Exchange Commission ("SEC") to register its common stock under the Securities Exchange Act of 1934, as amended (the "1934 Act"). The Form 10 filing provides information on the strategy and historical financial data of the Company. Upon the effectiveness of the Form 10, the Company will be subject to the reporting requirements of the 1934 Act and, as a result, will file periodic reports and other information with the SEC.
These actions follow the Company's November 15, 2022, announcement of the Company's intention to become a publicly-traded, exchange-listed company. The approval and timing of any listing is contingent upon fulfilling Nasdaq requirements and the Company successfully registering its common stock with the SEC. Until such time, the Company's common shares will continue to be quoted on the OTCPK Market.
From David P. Boyle, Company Chair, President and Chief Executive Officer
"Today's announcement is an important part of our overall growth strategy that includes creating additional access to capital, increasing trading volume, providing better liquidity for our shareholders, and creating greater visibility within the investor community."
About Burke & Herbert Financial Services Corp.
Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington DC Metro area. The Bank offers a full range of business and personal financial solutions designed to meet customers' banking, borrowing, and investment needs and has over 20 branches throughout the Northern Virginia region and commercial loan offices in Fredericksburg, Loudoun County, and Richmond, Virginia, and in Bethesda, Maryland. Learn more at www.burkeandherbertbank.com .
Member FDIC; Equal Housing Lender
Cautionary Note Regarding Forward-Looking Statements
This press release may contain certain forward-looking statements that are based on certain assumptions and describe future plans, strategies and expectations of the Company and the Bank, including with respect to the listing of the Company's shares on the Nasdaq stock exchange, registering the Company's shares with the SEC, and the timing and benefits thereof. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," "will," "should," "may," "view," "opportunity," "potential," or similar expressions or expressions of confidence. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Media Contact:
Jane Petty, 703-216-5491, jpetty@burkeandherbertbank.com
Investor Contact:
Roy E. Halyama, 703-549-2304, rhalyama@burkeandherbertbank.com
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SOURCE Burke & Herbert Bank
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