Guaranty Bancshares in Mount Pleasant, Texas, is planning an initial public offering that could raise $64.4 million.
The $1.8 billion-asset company disclosed in a regulatory filing that it aims to sell at least 2 million shares of stock at $26 to $28 a share. It could sell an additional 300,000 shares if there is enough demand.
Guaranty said it could use net proceeds to make acquisitions, though it has nothing immediately lined up. The company could also use the funds to repay corporate debt and support organic growth, among other things, the filing said.
Guaranty was publicly traded from 1998 to 2005, when it terminated its listing with Nasdaq.
“Since the delisting … there has been no material trading volume in our common stock,” the filing said.