GrandSouth completes $12 million capital raise
February 8, 2016
GrandSouth Bancorporation (OTCQB: GRRB) announces a successful $12 million capital raise through the issuance of common stock.
“We are pleased to announce the completion of a capital raise that will support our continued growth. There was a great deal of interest in both the local and institutional investor markets in our company and the prospects for profitable growth in the Upstate region of South Carolina. We believe that we have a great opportunity for growth ahead of us,” said GrandSouth Bancorporation’s Chairman and CEO Mason Y. Garrett.
FIG Partners LLC, an employee-owned broker/dealer based in Atlanta Georgia, assisted in raising the new capital from existing shareholders, as well as local and institutional investors.
GrandSouth’s wholly-owned subsidiary, GrandSouth Bank operates four branch offices in Anderson, Fountain Inn, Greenville and Greer, S.C. and a floor plan lending division out of a separate facility in Greenville, S.C.
