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Ichan affiliates own 17% of Guaranty Financial following conversion
By Lisa Kerner
Charlotte, N.C., Oct. 2 - Guaranty Financial Group Inc. shareholders led by Carl Icahn and High River LP reported beneficial ownership of approximately 18.15 million shares, or 17%, of the company.
The investors' 1,469,830 shares of series B preferred stock were converted into a total of 15,104,135 shares on Oct. 1 after Guaranty Financial shareholders approved the conversion feature on Sept. 29, according to a schedule 13D/A filed with the Securities and Exchange Commission.
Icahn Master Fund sold 40,000 shares of Guaranty on Oct. 1 for $4.1826 per share, the filing said.
Guaranty Financial is an Austin, Texas, publicly traded financial institution.
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