Financial Services Company NexBank Capital Secures $390M in Equity

NexBank Capital, Inc., the financial services and parent company of NexBank, announced it has raised an aggregate of $390 million through certain private placements of its equity securities, including $280 million raised in preferred stock from September 2021 to September 2022, $90 million in voting common stock from September 2021 to September 2022, and $20 million in non-voting common stock in December 2022.

The most recent transaction was a $20 million private placement of a new class of non-voting common stock of the Company that closed on December 29, 2022. The Company intends to use the net proceeds from this transaction as growth capital and for other general corporate purposes.

Jefferies LLC acted as exclusive financial advisor and Hunton Andrews Kurth LLP served as legal counsel to the Company in the various transactions.