Guaranty Financial (GFG) on Wednesday revealed the completion of its previously announced private placement of common stock to Robert Rowling, acting through TRT Financial Holdings, LLC, on May 30, 2008. Guaranty sold nearly 7.4 million shares of its authorized but unissued shares of common stock at $5.17 per share for an aggregate purchase price of about $38.4 million.
In addition, Guaranty announced the appointment of Robert Rowling to the company's Board of Directors. Robert Rowling serves as Chairman of TRT Financial Holdings, LLC.
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