First Guaranty Bancshares, a Louisiana bank with 21 branches and $1.4 billion in assets, raised $11 million on Thursday by offering 600,000 shares at $18.50. Its stock also began trading on the Nasdaq on Thursday; it broke issue shortly after its open but finished the day up 1.4% at $18.75.
The bank, which uplisted from the OTC Pink (symbol: FGBI), had previously filed to offer 750,000 shares when its share price was $21 (market cap of $148 million).
First Guaranty Bancshares is listed on the Nasdaq under the symbol FGBI. Sandler O'Neill acted as a lead manager on the deal.
