Phelps Represents First Guaranty Bancshares, Inc. as Co-Counsel in $34.5 Million Public Offering of Depositary Shares

May 10, 2021 - Phelps advised First Guaranty Bancshares, Inc. (NASDAQ: FGBI), a financial holding company with $2.6 billion in total assets and the parent company of First Guaranty Bank, as co-counsel in its public offering of 1,380,000 depositary shares with total proceeds of $34.5 million.   

FGBI expects to use the net proceeds from the depositary shares offering for general corporate purposes, including investments in First Guaranty Bank and potential strategic acquisitions.

Janney Montgomery Scott LLC served as sole book-running manager for the offering.

More information about the transaction is in the company’s press release. 

The Phelps transaction team was led by corporate and securities partner Mark Fullmer and associate Evan Cuccia, and tax partner Ryan Moon.