Coastal Carolina Bancshares Raises $15 Million in Private Equity Placement

Reuters12-20
Coastal Carolina Bancshares Raises $15 Million in Private Equity Placement

Coastal Carolina Bancshares, Inc., parent company of Coastal Carolina National Bank, has announced a private placement of $15 million in common equity, selling shares at $12.50 each to institutional and accredited investors. The proceeds will be used for general corporate purposes, including strengthening regulatory capital and supporting strategic growth initiatives. The shares have not been registered under the Securities Act of 1933 and may not be offered or sold without an applicable exemption. Raymond James & Associates, Inc. acted as the sole placement agent for the transaction.

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