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Charis Holdings Inc. raising $20M for Texas acquisition

Dallas-based Charis Holdings Inc. is raising $20 million in connection with its plans to become the holding company of Justin, Texas-based Justin State Bank.

According to a recent Form D filing, the company has sold $10.1 million of the offering, which involves equity and options, warrants or rights. Six investors have invested in the private placement, with the first sale occurring Feb. 20.

The minimum investment accepted from any outside investor is $500,000. The offering is not expected to last more than a year.

Justin State Bank reported $71.4 million in total assets as of Dec. 31, 2017.