Guaranty Bancshares, which is a Texas bank with 26 locations and $1.8 billion in assets, announced terms for its IPO on Monday.
The Mount Pleasant, TX-based company plans to raise $54 million by offering 2 million shares at a price range of $26 to $28. At the midpoint of the proposed range, Guaranty Bancshares would command a fully diluted market value of $292 million.
Guaranty Bancshares was founded in 1913 and booked $67 million in revenue for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol GNTY. Sandler O'Neill and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of May 8, 2017.
