Erebor in talks to raise $1.5B at $9.5B valuation

Erebor Bank is negotiating a $1.5 billion funding round at a $9.5 billion valuation, nearly doubling its prior $4.35 billion value. Deposits grew from $1.1 billion in March to $4.6 billion by July. The capital supports a mandatory 12% leverage ratio and a $200 million facility for Valar Atomics.