TRT Financial continues to invest in Guaranty Financial

By Lisa Kerner

Charlotte, N.C., Aug. 26 - TRT Financial Holdings, LLC reported the purchase of 950,500 shares of Guaranty Financial Group, Inc. on Aug. 20 through Aug. 22 for a total of approximately $4.14 million, or an average of $4.36 per share.

According to a schedule 13D filed with the Securities and Exchange Commission, TRT beneficially owns 8,373,833 shares, or 18.76%, of the Austin, Texas, publicly traded financial institution.

In May TRT, a privately owned holding company, announced it agreed to acquire 7.4 million authorized but unissued shares of Guaranty Financial common stock at $5.17 per share, or about $38.4 million.

The May 26 investment agreement was reported in a form 8-K filing with the Securities and Exchange Commission.

Within 120 days of the initial purchase, TRT chairman Robert Rowling would purchase from Guaranty a series of Guaranty convertible preferred stock giving Rowling ownership of 19.9% of Guaranty's total outstanding common stock, assuming full conversion, it was previously reported.

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