Investar to acquire Wichita Falls Bancshares for $83.6M; raises $32.5M in preferred stock offering

Investar Holding Corp

Merger consideration: $7.2M cash + 3,955,344 shares of ISTR common; total ~$83.6M at $19.32 close.
Private placement of 32,500 shares of 6.5% Series A Preferred Stock at $1,000/share; gross proceeds $32.5M.
Deal expected to close Q4 2025; requires shareholder and regulatory approvals. Termination fee of $3.3M payable by WFB.
Preferred stock pays 6.5% annual dividend, convertible to common at 47.619 shares per preferred share; redeemable after July 1, 2030.
Net proceeds ~$30.4M to fund acquisition and general corporate; preferred stock qualifies as additional Tier 1 capital.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Investar Holding Corp: Established and designated Series A Preferred Stock with 32,500 authorized shares (effective 2025-06-30).

Change: charter amendment
Effective: 2025-06-30

Exact text from the filing

On June 30, 2025, Investar filed the Articles of Amendment with the Louisiana Secretary of State, which became effective as of June 30, 2025, amending Investar’s Restated Articles of Incorporation, by establishing and designating the newly authorized Series A Preferred Stock of Investar initially consisting of 32,500 authorized shares.

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Investar Holding Corp filing history →

Source: SEC EDGAR

accession 0001437749-25-021631

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