Southern First Bancshares Announces Public Offering of Common Stock
November 3, 2014
GREENVILLE, SC – Southern First Bancshares, Inc. (NASDAQ: SFST), the Company, announced that it intends to commence a public offering of 1,200,000 shares of its common stock through a firm commitment underwritten offering. The Company intends to use the proceeds of the offering to repurchase all of its remaining outstanding shares of Series T Preferred Stock, and to use any remainder for general corporate purposes, including contributing a portion of the proceeds to Southern First Bank, the bank subsidiary of the Company, as additional capital to support organic growth.
Sandler O’Neill + Partners, L.P. will serve as the sole underwriter for the offering. The Company intends to grant the underwriter a 30-day option to purchase from the Company up to an additional 180,000 shares of common stock to cover over-allotments, if any.
ABOUT SOUTHERN FIRST BANCSHARES
Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The Company consists of Southern First Bank, the 6th largest bank headquartered in South Carolina. Southern First Bancshares has been providing financial services since 1999 and now operates in nine locations in the Greenville, Columbia, and Charleston markets of South Carolina. Southern First Bancshares has assets of approximately $1.0 billion and its common stock is traded in the NASDAQ Global Market under the symbol SFST.
