CoastalSouth Bancshares Announces Pricing of Initial Public Offering

CoastalSouth Bancshares, Inc., a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced on July 1, 2025 the pricing of its initial public offering of 2,035,000 shares of its common stock, 1,700,000 of which are being sold by CoastalSouth and 335,000 of which are being sold by certain selling shareholders, at a public offering price of $21.50 per share.

The shares were expected to begin trading on July 2, 2025, on the New York Stock Exchange under the ticker symbol "COSO."

The closing of the offering is expected to occur on July 3, 2025, subject to the satisfaction of customary closing conditions.

In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 305,250 shares of the company’s common stock at the initial public offering price, less underwriting discounts and commissions.

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 won’t receive any proceeds from the sale of shares by the selling shareholders.

Piper Sandler is acting as sole bookrunner for the offering. Stephens Inc. is acting as lead manager.

A registration statement on Form S-1 (including a preliminary prospectus) relating to these securities was declared effective by the Securities and Exchange Commission on July 1, 2025.