First Guaranty Bancshares Announces Conversion of Subordinated Note into Common Stock in Agreement with Director Edgar Ray Smith, III

Reuters

Jun 19

First Guaranty Bancshares Announces Conversion of Subordinated Note into Common Stock in Agreement with Director Edgar Ray Smith, III

First Guaranty Bancshares Inc. has announced a significant financial transaction involving the conversion of debt into equity. On June 16, 2025, the company entered into an agreement with Edgar Ray Smith, III, a director and significant shareholder, to exchange a $15 million Floating Rate Subordinated Note for 1,981,506 newly issued common shares. This strategic move will see the cessation of interest accrual on the note, effectively concluding Mr. Smith's rights to it. The conversion is expected to be finalized around June 30, 2025, pending customary conditions and approvals. This transaction reflects First Guaranty's ongoing efforts to optimize its capital structure.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First Guaranty Bancshares Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001408534-25-000049), on June 18, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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First Guaranty Bancshares Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001408534-25-000049), on June 18, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250618:nNDL45KD91:1","article_id":"2544183437","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2544183437","pubTimestamp":1750281949,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"First Guaranty Bancshares Announces Conversion of Subordinated Note into Common Stock in Agreement with Director Edgar Ray Smith, III. First Guaranty Bancshares Inc. has announced a significant financial transaction involving the conversion of debt into equity. On June 16, 2025, the company entered into an agreement with Edgar Ray Smith, III, a director and significant shareholder, to exchange a $15 million Floating Rate Subordinated Note for 1,981,506 newly issued common shares. This strategic move will see the cessation of interest accrual on the note, effectively concluding Mr. Smith's rights to it. The conversion is expected to be finalized around June 30, 2025, pending customary conditions and approvals. 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