Guaranty Bancshares Completed the Issuance and Sale of $35,000,000 in Principal Amount of 3.625% Fixed-To-Floating Rate Subordinated Notes Due April 1, 2032
March 04, 2022 at 04:32 pm
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On March 4, 2022, Guaranty Bancshares, Inc. completed the issuance and sale of $35,000,000 in principal amount of 3.625% Fixed-to-Floating Rate Subordinated Notes due April 1, 2032 (the Notes) pursuant to a Subordinated Note Purchase Agreement (the Purchase Agreement) by and between the Company and the purchaser named therein (the Purchaser). The Notes were issued by the Company to the Purchaser at a price equal to 100% of their face amount. The Notes were offered and sold by the Company to the Purchaser in a private offering in reliance on the exemptions from registration available under Section 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act), and the provisions of Regulation D thereunder (the Private Placement).
The Company intends to use the net proceeds of the offering for general corporate purposes, including to repay debt and repurchase shares of capital stock.
Guaranty Bancshares, Inc. is a bank holding company of Guaranty Bank & Trust, N.A. (the Bank). The Bank provides a range of relationship-driven commercial and consumer banking, as well as trust and wealth management products and services that are tailored to meet the needs of small- and medium-sized businesses, professionals and individuals. Its lending activities provide a range of loans, including commercial lines of credit, working capital loans, commercial real estate-backed loans, term loans, equipment financing, acquisition, expansion and development loans, borrowing base loans, real estate construction loans, homebuilder loans, letters of credit and other loan products. It also offers various consumer loans to individuals and professionals, including residential real estate loans, home equity loans, installment loans, unsecured and secured personal lines of credit, and standby letters of credit. The Bank operates 33 full-service banking locations.
Guaranty Bancshares Completed the Issuance and Sale of $35,000,000 in Principal Amount of 3.625% Fixed-To-Floating Rate Subordinated Notes Due April 1, 2032