Southern First Bancshares launches public offering of common stock

Southern First Bancshares, Inc. (NASDAQ: SFST) announced it has launched an underwritten public offering of common stock shares. The Greenville, South Carolina-based bank holding company will grant underwriters a 30-day option to purchase up to an additional 15 percent of the shares sold in the offering.

The company plans to use net proceeds for general corporate purposes, including supporting organic growth initiatives, providing capital to its bank subsidiary, redeeming or repurchasing outstanding debt including subordinated debt, and working capital purposes.

Piper Sandler & Co. serves as the sole book-running manager for the offering, with Keefe, Bruyette & Woods, A Stifel Company, acting as co-manager.

Southern First Bancshares operates as the parent company of Southern First Bank, which the company describes as the second largest bank headquartered in South Carolina. The bank has provided financial services since 1999 and operates 12 locations across South Carolina markets including Greenville, Columbia, and Charleston, as well as regions in North Carolina and Atlanta, Georgia.

The company reported consolidated assets of approximately $4.4 billion. The offering requires registration with the Securities and Exchange Commission through a shelf registration statement and prospectus supplement.

The announcement was made according to a press release from the company.

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