SCHEDULE 13G/A: WBI LP and White Bay Global, Inc. Disclose 2.7% Passive Stake in Blue Ridge Bankshares

WBI LP and White Bay Global, Inc. have jointly filed an amended Schedule 13G, disclosing a passive beneficial ownership of 2.7% in Blue Ridge Bankshares, Inc., totaling 2,004,000 shares.

Summary

• WBI LP, a Delaware limited partnership, and White Bay Global, Inc. (WBG), a U.S. Virgin Islands corporation, jointly filed an Amendment No. 2 to Schedule 13G.
• The filing pertains to their beneficial ownership of Common Stock in Blue Ridge Bankshares, Inc.
• The Reporting Persons (WBI LP and WBG) collectively beneficially own 2,004,000 shares of Common Stock.
• This ownership represents 2.7% of the Issuer's class of securities.
• The beneficial ownership calculation is based on 73,516,146 shares of Common Stock outstanding as of October 30, 2024, as reported by the Issuer in its Form 10-Q on November 6, 2024, plus the 2,004,000 shares underlying warrants held by the Reporting Persons.
• The Reporting Persons hold shared voting power and shared dispositive power over all 2,004,000 shares.
• The filing certifies that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a passive ownership stake, indicating continued investor interest in Blue Ridge Bankshares, Inc. without any stated intent to influence control. This is generally neutral to slightly positive as it confirms an existing investor's position.

Positives

• The filing indicates continued passive investor interest from WBI LP and White Bay Global, Inc. in Blue Ridge Bankshares, Inc.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer, indicating a passive investment strategy by the reporting persons.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the Issuer's future performance or strategic outlook, as it is a disclosure of passive beneficial ownership by an investor.

Industry Context

This filing is a routine disclosure within the financial services industry, specifically for a bank holding company. It reflects a passive investment by an institutional investor, WBI LP and its general partner White Bay Global, Inc., in Blue Ridge Bankshares, Inc. Such filings provide transparency on significant ownership stakes but do not typically indicate strategic shifts or operational changes within the company itself.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant passive investor's stake in the company, confirming the ownership structure.

Key Dates

Keywords

Blue Ridge Bankshares, WBI LP, White Bay Global Inc., Schedule 13G, beneficial ownership, common stock, passive investment, bank holding company, financial services