Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
First Guaranty Bancshares, Inc. incurred senior notes of $30.0 million with Smith & Tate Investment, L.L.C. at Prime Rate plus 75 basis points maturing March 28, 2034.
- Instrument
- senior notes
- Principal
- $30.0 million
- Counterparty
- Smith & Tate Investment, L.L.C.
- Rate
- Prime Rate plus 75 basis points
- Maturity
- March 28, 2034
- Event
- incurrence
Exact text from the filing
On March 28, 2024, First Guaranty Bancshares, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Agreement”) with Smith & Tate Investment, L.L.C. (the "Purchaser"), a company controlled by Edgar Ray Smith III, a director of the Company. The Company issued a $30.0 million subordinated note (the “Note”) to the Purchaser in a private placement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
First Guaranty Bancshares, Inc. entered into Subordinated Note Purchase Agreement with Smith & Tate Investment, L.L.C. valued at $30.0 million (effective 2024-03-28).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Smith & Tate Investment, L.L.C.
- Value
- $30.0 million
- Effective
- 2024-03-28
Exact text from the filing
On March 28, 2024, First Guaranty Bancshares, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Agreement”) with Smith & Tate Investment, L.L.C. (the "Purchaser"), a company controlled by Edgar Ray Smith III, a director of the Company. The Company issued a $30.0 million subordinated note (the “Note”) to the Purchaser in a private placement.
View on SEC.gov