Southern First Bancshares, Inc. (NASDAQ: SFST) on April 15, 2026, announced the pricing of an underwritten public offering of 1,050,000 shares of its common stock at a price of $54.00 per share.
The company also granted the underwriters a 30-day option to purchase up to an additional 157,500 shares of common stock.
Officials said the aggregate gross proceeds of the offering will be approximately $56.7 million before discounts and expenses.
Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $65.2 million before discounts and expenses.
Officials said the company intends to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth initiatives, providing capital to the company's bank subsidiary, redeeming or repurchasing outstanding indebtedness, including subordinated debt, and for working capital purposes.
The offering is expected to close on April 17, 2026, subject to customary closing conditions.
Piper Sandler & Co. is serving as the sole book-running manager for the offering. Keefe, Bruyette & Woods, a Stifel Company, is serving as co-manager.
Southern First Bancshares, Inc., Greenville, South Carolina, is a registered bank holding company incorporated under the laws of South Carolina.
The company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia.
Southern First Bancshares has consolidated assets of approximately $4.4 billion.
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