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Limestone University announced April 29, 2025, that its Board of Trustees voted to discontinue both its on-campus and online programs, leading to the closure of the institution at the end of the current academic semester.

“Despite exhaustive efforts to secure the funding necessary to continue our operations, we have come to the difficult conclusion that Limestone University has not been able to secure the necessary funding to sustain its operations,” said Randall Richardson, chair of Limestone’s Board of Trustees.

Richardson added, “We want to thank the almost 200 recent supporters in the last two weeks who committed a collective $2.143 million. We had hoped that would be enough to sustain our institution. But in the final analysis, we could not continue operations on-campus or online without a greater amount of funding.”

Founded in 1845, Limestone has served generations of students, offering transformative educational experiences both on its Gaffney campus and through its online degree programs.

However, officials said long-standing financial pressures, declining enrollment trends, and rising operational costs made it impossible for the institution to remain sustainable without the immediate influx of substantial funding.

“Words cannot fully express the sorrow we feel in having to share this news,” said Nathan Copeland, president of Limestone University. “Our students, alumni, faculty, staff, and supporters fought tirelessly to save this historic institution. While the outcome is not what we hoped for, we are forever grateful for the passion, loyalty, and prayers of our Saints family.”

Officials said the university will proceed with an orderly wind-down process. It will continue to assist current students with transferring to other institutions and to support faculty and staff during the transition, the officials said.

They said more detailed information about the closure timeline, academic records, transfer assistance, employment impact, and other support services will be provided in the coming days.

For nearly two centuries, Limestone University has been a cornerstone of education and economic development in South Carolina and beyond, impacting thousands of lives and leaving a profound legacy.

“Our Limestone spirit will endure through the lives of our students and alumni who carry it forward into the world,” Richardson said. “Though our doors may close, the impact of Limestone University will live on.”

Limestone will hold its final commencement ceremonies at Fullerton Auditorium on Saturday, May 3, at 10 a.m. and 1 p.m.

Limestone has been an accredited, independent, non-denominational Christian university with its residential campus in Gaffney, South Carolina. 

American Bancorp Inc. announced the appointment of Dominik Mjartan as chief executive officer for both American Bancorp Inc. and its subsidiary, American Pride Bank.

He comes to American Bancorp Inc. after serving as president and CEO for Optus Bank in South Carolina, where shareholders realized an exponential return on equity under his leadership.

After just six months under his leadership, American Pride Bank has grown its total assets by 46 percent and crossed $540 million.

An immigrant from Slovakia, Mjartan came to the United States as a teenager with a dream of becoming an entrepreneur.

He is a founding director of Climate First Bank and has served as an advisory board member for the FDIC, a director of the Community Development Bankers Association, and the National Bankers Association, among others.

His leadership and business success earned him recognition as an EY Entrepreneur of the Year Southeast this past year.

At American Bancorp Inc., Mjartan has set a new trajectory of growth, increasing the balance sheet by more than $170 million, including $36 million in new capital.

The company also secured a designation as a Public Benefit Corporation and Minority Depository Institution (MDI).

American Pride Bank, founded in 2007 by first-generation Americans and entrepreneurs, is currently headquartered in Macon, Georgia.

A spokesperson said the bank is exploring opportunities to shift headquarters to Atlanta to accommodate growth.

Said Mjartan: “I am deeply moved by American Pride Bank’s history and inspired by its founders, directors, and strong team. Together, we’re going to build a bank that the financial sector has been missing: one that combines the relational, people-driven prowess of community banks with the capacity, technology, and scale of a Wall Street Enterprise.”

He added, “Thanks to everyone’s efforts, we are well on our way.”

NOVA Infrastructure, a middle-market infrastructure investment firm, said it has completed a majority investment in DartPoints, a leading provider of secure, high-performance data center solutions for enterprises.

Officials said NOVA’s investment includes a significant growth capital component designed to scale DartPoints’ platform and expand its footprint through targeted investments in capacity expansion and strategic M&A to meet market demand. 

“We’re excited to partner with a best-in-class data center management team and platform serving a diverse and growing base of enterprise customers,” said Chris Beall, managing partner at NOVA.

Beall added, “We look forward to growing the business and capitalizing on the significant opportunity in DartPoints’ target markets, which benefit from shifting demand trends and the decentralization of digital workloads."

DartPoints provides essential IT services to both retail and wholesale customers through a distributed network of data center facilities.

The company serves more than 900 enterprise customers, including major universities, hospital systems and Fortune 500 companies, from 11 data centers in 10 markets in South Carolina, North Carolina, Ohio, Indiana and Louisiana.

With the transaction, DartPoints acquired the underlying real estate in DartPoints’ Greenville, SC; Baton Rouge, LA; and Asheville, NC, data centers, further transitioning to ownership of its strategic facilities.

Officials said that as part of the transaction, existing sponsor Astra Capital Management will retain a minority stake in the business, demonstrating continued confidence in the company’s long-term growth strategy.

Orion Infrastructure Capital has also joined as a lender and investment partner, providing a senior secured credit facility and participating as a minority equity investor.

NOVA and OIC’s commitments to DartPoints total more than $250 million of capital.

“We’re entering a new phase of growth centered on infrastructure ownership, operational control and strategic market expansion,” said Scott Willis, CEO of DartPoints. “We’ve always believed that Tier 2 and Tier 3 markets deserve the same digital capabilities as Tier 1 metros.:

Willis added, “This transaction positions us to bring scalable, secure infrastructure closer to the demand wherever it’s needed, especially as data-intensive workloads take hold across industries. We are thrilled to work with NOVA to efficiently and effectively grow our business.”

Bank Street Group served as exclusive M&A advisor, Houlihan Lokey advised on the debt financing, and Sheppard Mullin and Debevoise & Plimpton served as legal counsel to DartPoints.

Winston & Strawn served as legal counsel for NOVA and Vinson & Elkins served as legal counsel for OIC.