Guaranty procures $59 million from private placement

DENVER – Guaranty Bancorp completed its previously capital acquisition, procuring $59.1 million through a private placement of preferred stock.

Guaranty operates 34 branches in Colorado, 11 in Larimer and Weld counties.

The company entered into an agreement in May with investors Patriot Financial Partners L.P.; Patriot Financial Partners Parallel L.P.; Relational Investors Mid-Cap Fund I L.P.; Relational Investors Mid-Cap Fund II L.P.; and Castle Creek Capital Partners III L.P. to sell the mandatorially convertible Series A preferred stock via private placement.

As part of the purchase agreement with Patriot Financial, Guaranty appointed Patriot managing partner Kirk Wycoff to its board of directors, as well as the audit and corporate risk committees.
http://www.ncbr.com/article.asp?id=101606

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