First Security Group (FSGI) in Chattanooga, Tenn., is poised to raise $90 million from institutional investors.

Four institutional investors are leading the recapitalization of the holding company for the $1.1 billion-asset FSGBank, according to a press release Tuesday. Each of the four will invest $9 million for a 9.9% stake in First Security. Its stock will be priced at $1.50 as a result of the recapitalization, a 43% discount to its closing price of $2.61 on Monday.

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