Southern First Bancshares Prices Underwritten Public Offering At $54/shr

(RTTNews) - Southern First Bancshares, Inc. (SFST), a registered bank holding company, Thursday announced that it has priced its underwritten public offering of 1.05 million common shares at $54.00 per share.

The underwriter has also been granted a 30-day option to purchase up to an additional 157,500 shares of common stock.

The company estimated that the gross proceeds of the offering will be approximately $56.7 million before discounts and expenses.

Also added that if the underwriters exercise their option of purchasing additional shares, then the aggregate gross proceeds of the offering would be approximately $65.2 million.

The offering is expected to close on April 17.

Piper Sandler & Co. is serving as the sole book-running manager for the offering.

On the Nasdaq, shares of Southern First Bancshares closed Wednesday's trading 0.03 percent higher at $58.87.