On January 18, 2023, Life & Banc Split Corp. announced a $54.7 million offering of 2,900,922 Preferred Shares at $9.85 and 2,900,922 Class A Shares at $9.00, closing on January 25, 2023. The shares, listed on the TSX under "LBS.PR.A" and "LBS," aim to fund the company's objectives of fixed distributions and capital growth.

The offering was led by RBC Dominion Securities Inc., CIBC World Markets Inc., National Bank Financial Inc., and Scotia Capital Inc., with Hampton Securities, Canaccord Genuity, BMO Nesbitt Burns, Raymond James, TD Securities, iA Private Wealth, Echelon Wealth Partners, Manulife Securities, Research Capital, and Richardson Wealth also acting as agents.

Legal counsel included Osler, Hoskin & Harcourt LLP for the company and Stikeman Elliott LLP for the agents. Net proceeds of $52.6 million, post-agent fees and expenses, were allocated for the company's investment portfolio, focusing on Canadian banks and life insurers.