FGBI - First Guaranty Bancshares prices Series A preferred stock depositary shares offering

First Guaranty Bancshare ([[FGBI]] +0.4%) priced its underwritten public offering of 1.2M depositary shares, each of which represents a 1/40th interest in a share of its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, $1K liquidation preference per share (equivalent to $25/depositary share).Underwriters granted 30-day option to purchase additional 180K depositary shares.Offer closing expected on or about Apr.27.The company has filed to list the depositary shares on the Nasdaq under the symbol, 'FGBIP'.Gross proceeds expected to be $30M; net proceeds are expected to be $28.95M which are to be used for general corporate purposes, which may include working capital and the funding of organic growth or potential acquisitions.

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First Guaranty Bancshares prices Series A preferred stock depositary shares offering