GBank Financial Holdings Inc. Completes $11.0 Million Subordinated Debt Offering

Core Viewpoint - GBank Financial Holdings Inc has completed a private placement of $11.0 million in subordinated notes to enhance its capital structure and refinance existing debt [1][2]. Group 1: Financial Details - The private placement consists of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2036, with an initial fixed interest rate of 7.25% until January 15, 2031, after which it will reset to a floating rate [1][3]. - The company plans to use the net proceeds for general corporate purposes, including refinancing $6.5 million of existing subordinated debt issued in 2020 [2][3]. - The Notes qualify as Tier 2 capital for regulatory purposes and are redeemable by the company starting January 15, 2031, at 100% of the principal amount plus accrued interest [3]. Group 2: Company Background - GBank Financial Holdings Inc is headquartered in Las Vegas, Nevada, and is listed on the Nasdaq Capital Market under the symbol "GBFH" [6]. - The company operates a national payment and Gaming FinTech business, serving gaming clients across the U.S. and is a top national SBA lender operating in 40 states [6]. - GBank provides a range of banking products and services through its two full-service commercial branches in Las Vegas, targeting small businesses, middle-market enterprises, public entities, and affluent individuals [6].