Southern First Bancshares prices stock offering at $54 per share

Southern First Bancshares, Inc. (NASDAQ: SFST) announced the pricing of an underwritten public offering of 1,050,000 shares of common stock at $54.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 157,500 shares.

The offering will generate approximately $56.7 million in gross proceeds before discounts and expenses. If underwriters exercise their full option to purchase additional shares, gross proceeds would reach approximately $65.2 million before discounts and expenses.

The company plans to use net proceeds for general corporate purposes, including supporting organic growth initiatives, providing capital to its bank subsidiary, redeeming or repurchasing outstanding debt including subordinated debt, and working capital purposes. The offering is expected to close on April 17, 2026, subject to customary closing conditions.

Piper Sandler & Co. serves as the sole book-running manager for the offering, while Keefe, Bruyette & Woods acts as co-manager.

Southern First Bancshares is a South Carolina-based bank holding company whose subsidiary, Southern First Bank, operates as the second largest bank headquartered in South Carolina. The bank has provided financial services since 1999 and operates 12 locations across South Carolina, North Carolina, and Georgia markets. The company reports consolidated assets of approximately $4.4 billion.

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