Guaranty Bancshares Inc., a Mount Pleasant-based financial institution, announced the pricing of its public offering (IPO) that begins trading Tuesday, May 9.
Guaranty Bancshares says the pricing of its initial public offering of 2 million shares of common stock will be priced at $27 per share. Shares of Guaranty’s common stock will trade NASDAQ Global Select Market under the ticker symbol “GNTY.”
Guaranty Bancshares is the holding company of Guaranty Bank & Trust, N.A.
Guaranty intends to use its net proceeds from the offering to further implement its expansion strategy and fund organic growth within its banking markets, repay corporate debt, and for general corporate purposes.
The bank plans to raise $54 million with the offering.
Guaranty has granted the underwriters for the offering a 30-day option to purchase up to an additional 300,000 shares of common stock at the public offering price less the underwriting discount. Sandler O’Neill + Partners L.P. is acting as sole book-running manager, and Stephens Inc. is acting as co-manager.
As of December 31, 2016, Guaranty had 26 locations, total assets of $1.8 billion, total loans of $1.2 billion and total deposits of $1.6 billion.
www.gnty.com