Southern First Bancshares in Greenville, S.C., plans to raise up to $65.2 million through a public offering of common stock.
The company said in a press release that it plans to sell nearly 1.1 million shares of stock at $54 each. Another 157,500 shares could be sold if there is enough demand.
The proceeds of the offering will be used for a range of purposes that could include supporting organic growth, providing capital to bank, redeeming or repurchasing debt, and working capital. The offering is expected to close on April 17.
Piper Sandler is serving as the book-running manager. Keefe, Bruyette & Woods is co-manager.