Business
CoastalSouth Bancshares, Inc. Announces Launch of Initial Public Offering
ATLANTA, June 24, 2025--CoastalSouth Bancshares, Inc. announced today the launch of its initial public offering of 2,600,000 shares of its common stock.
About this update from Coastalsouth Bancshares, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1024,"height":512,"url":"https://media.zenfs.com/en/business-wire.com/1ead5857e07b91e5e445defbdb8a5c08"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/EanBACNg6lVrfd.at.Ewqg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ4MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/1ead5857e07b91e5e445defbdb8a5c08","width":960,"height":480},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/mJt87X7k4fMRBfcVboq38A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIwNDg7aD0xMDI0O2NmPXdlYnA-/https://media.zenfs.com/en/business-wire.com/1ead5857e07b91e5e445defbdb8a5c08","width":1024,"height":512}},"lazy":false},{"type":"text","content":"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.","length":475,"tagName":"p"},{"type":"text","content":"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".","length":445,"tagName":"p"},{"type":"text","content":"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.","length":389,"tagName":"p"},{"type":"text","content":"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 pr...