CoastalSouth Bancshares, Inc. Announces Launch of Initial Public Offering

(Logo Courtesy of CoastalSouth Bancshares, Inc.)

CoastalSouth Bancshares, Inc., a Georgia corporation and the bank holding company for Coastal States Bank, a South Carolina state-chartered commercial bank, announced June 24, 2025, 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.

The company expects to grant 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.

Officials said the initial public offering price is 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”.

Officials said 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 any sale of shares by the selling shareholders.

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 prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from:

Piper Sandler & Co., Prospectus DepartmentPhone: (800) 747-3924 Email: prospectus@psc.com

Stephens Inc., Syndicate DepartmentPhone: (800) 643-9691 Email: prospectus@stephens.com.

Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business.

COSO has approximately $2.2 billion in total assets.