Latest news with #CoastalSouth
Yahoo
13 hours ago
- Business
- Yahoo
CoastalSouth Bancshares, Inc. Announces Launch of Initial Public Offering
ATLANTA, June 24, 2025--(BUSINESS WIRE)--CoastalSouth Bancshares, Inc. ("CoastalSouth" or the "Company"), a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced today the launch of its initial public offering of 2,600,000 shares of its common stock, 1,700,000 of which are being offered by CoastalSouth and 900,000 of which are being offered by certain selling shareholders. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 390,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $21.50 and $23.50 per share of common stock. CoastalSouth expects to list its common stock on the New York Stock Exchange under the ticker symbol "COSO". CoastalSouth intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, which may include, without limitation, supporting our organic growth, funding opportunistic strategic acquisitions, funding branch expansion, and repaying indebtedness. CoastalSouth will not receive any proceeds from any sale of shares by the selling shareholders. Piper Sandler is acting as sole bookrunner for the offering. Stephens Inc. is acting as lead manager. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: Piper Sandler & Co., Prospectus DepartmentPhone: (800) 747-3924 Email: prospectus@ Stephens Inc., Syndicate DepartmentPhone: (800) 643-9691 Email: prospectus@ A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission (the "SEC"), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About CoastalSouth Bancshares CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business. At present, COSO has approximately $2.2 billion in total assets. To learn more visit Forward-Looking Statements: This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the proposed offering, the anticipated use of the net proceeds therefrom, the expected listing on the NYSE, the anticipated terms of the proposed offering, enhanced visibility of our company, expansion of our investor base, and enhanced liquidity of our shares of common stock. In evaluating these forward-looking statements, you should consider various factors, including our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business, as well as the performance of the stock market in general. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond CoastalSouth's control, including those set forth in the Risk Factors section of CoastalSouth's registration statement on Form S-1 related to the offering (Registration No. 333-287854), as well as any other SEC filings, as amended or updated from time to time. Copies of CoastalSouth's filings with the SEC are available on the SEC's website at CoastalSouth undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. View source version on Contacts Stephen R. StonePresident and Chief Executive OfficerCoastalSouth Bancshares,
Reuters
13 hours ago
- Business
- Reuters
Community bank CoastalSouth Bancshares eyes $281 million valuation in US IPO
June 24 (Reuters) - Private equity-backed CoastalSouth Bancshares ( opens new tab is targeting a valuation of up to $281.4 million in its initial public offering in the United States, the community bank said on Tuesday. With the 2023 regional banking crisis in the rearview mirror, analysts expect an uptick in banking IPOs in the near-future after years of subdued activity. Castle Creek-backed Northpointe Bancshares (NPB.N), opens new tab and the Republican Party's top bank, Chain Bridge Bancorp (CBNA.N), opens new tab, have gone public in New York since October 2024. Founded in 2004, CoastalSouth currently operates 11 retail banking branches in the Lowcountry of South Carolina, as well as the Savannah and Atlanta markets in Georgia. The bank has $2.2 billion in assets and competes against the likes of SouthState (SSB.N), opens new tab and South Atlantic Bancshares ( opens new tab. In 2017, CoastalSouth raised $62 million to bolster its capital position. The recapitalization was led by investment firms Patriot Financial Partners, EJF Capital and GCP Capital Partners. Atlanta, Georgia-based CoastalSouth and some of its existing shareholders are seeking up to $61.1 million by offering 2.6 million shares priced between $21.50 and $23.50 apiece. CoastalSouth is marketing 1.7 million shares, while some backers are parting ways with 900,000 shares. The bank currently trades in the over-the-counter market. Its last reported sale price was $19.40 apiece. CoastalSouth will list on the New York Stock Exchange under the symbol "COSO". Piper Sandler and Stephens are the underwriters for the offering. The bank plans to use the proceeds for general purposes, which may include debt repayment as well as funding branch expansion and acquisitions.
Yahoo
14 hours ago
- Business
- Yahoo
CoastalSouth Bancshares, Inc. Announces Launch of Initial Public Offering
ATLANTA, June 24, 2025--(BUSINESS WIRE)--CoastalSouth Bancshares, Inc. ("CoastalSouth" or the "Company"), a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced today the launch of its initial public offering of 2,600,000 shares of its common stock, 1,700,000 of which are being offered by CoastalSouth and 900,000 of which are being offered by certain selling shareholders. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 390,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $21.50 and $23.50 per share of common stock. CoastalSouth expects to list its common stock on the New York Stock Exchange under the ticker symbol "COSO". CoastalSouth intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, which may include, without limitation, supporting our organic growth, funding opportunistic strategic acquisitions, funding branch expansion, and repaying indebtedness. CoastalSouth will not receive any proceeds from any sale of shares by the selling shareholders. Piper Sandler is acting as sole bookrunner for the offering. Stephens Inc. is acting as lead manager. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: Piper Sandler & Co., Prospectus DepartmentPhone: (800) 747-3924 Email: prospectus@ Stephens Inc., Syndicate DepartmentPhone: (800) 643-9691 Email: prospectus@ A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission (the "SEC"), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About CoastalSouth Bancshares CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business. At present, COSO has approximately $2.2 billion in total assets. To learn more visit Forward-Looking Statements: This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the proposed offering, the anticipated use of the net proceeds therefrom, the expected listing on the NYSE, the anticipated terms of the proposed offering, enhanced visibility of our company, expansion of our investor base, and enhanced liquidity of our shares of common stock. In evaluating these forward-looking statements, you should consider various factors, including our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business, as well as the performance of the stock market in general. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond CoastalSouth's control, including those set forth in the Risk Factors section of CoastalSouth's registration statement on Form S-1 related to the offering (Registration No. 333-287854), as well as any other SEC filings, as amended or updated from time to time. Copies of CoastalSouth's filings with the SEC are available on the SEC's website at CoastalSouth undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. View source version on Contacts Stephen R. StonePresident and Chief Executive OfficerCoastalSouth Bancshares,
Business Wire
14 hours ago
- Business
- Business Wire
CoastalSouth Bancshares, Inc. Announces Launch of Initial Public Offering
ATLANTA--(BUSINESS WIRE)--CoastalSouth Bancshares, Inc. ('CoastalSouth' or the 'Company'), a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced today the launch of its initial public offering of 2,600,000 shares of its common stock, 1,700,000 of which are being offered by CoastalSouth and 900,000 of which are being offered by certain selling shareholders. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 390,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is currently expected to be between $21.50 and $23.50 per share of common stock. CoastalSouth expects to list its common stock on the New York Stock Exchange under the ticker symbol 'COSO'. CoastalSouth intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, which may include, without limitation, supporting our organic growth, funding opportunistic strategic acquisitions, funding branch expansion, and repaying indebtedness. CoastalSouth will not receive any proceeds from any sale of shares by the selling shareholders. Piper Sandler is acting as sole bookrunner for the offering. Stephens Inc. is acting as lead manager. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: Piper Sandler & Co., Prospectus Department Phone: (800) 747-3924 Email: prospectus@ Stephens Inc., Syndicate Department Phone: (800) 643-9691 Email: prospectus@ A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission (the "SEC"), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About CoastalSouth Bancshares CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business. At present, COSO has approximately $2.2 billion in total assets. To learn more visit Forward-Looking Statements: This press release contains statements that constitute 'forward-looking statements.' The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the proposed offering, the anticipated use of the net proceeds therefrom, the expected listing on the NYSE, the anticipated terms of the proposed offering, enhanced visibility of our company, expansion of our investor base, and enhanced liquidity of our shares of common stock. In evaluating these forward-looking statements, you should consider various factors, including our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business, as well as the performance of the stock market in general. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond CoastalSouth's control, including those set forth in the Risk Factors section of CoastalSouth's registration statement on Form S-1 related to the offering (Registration No. 333-287854), as well as any other SEC filings, as amended or updated from time to time. Copies of CoastalSouth's filings with the SEC are available on the SEC's website at CoastalSouth undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
