CoastalSouth Bancshares, Inc. (COSO) priced its public offering – a New York Stock Exchange uplisting deal – at $21.50 – the low end of its $21.50-to-$23.50 price range – on Tuesday night, July 1, 2025. CoastalSouth Bancshares trimmed its offering’s size at pricing to 2.04 million shares – down from the 2.06 million shares in the prospectus. The Atlanta, Georgia-based bank holding company raised $43.75 million.
Piper Sandler was the sole book-runner. Stephens Inc. served as a lead manager.
This public offering was conducted in connection with CoastalSouth Bancshares’ uplisting to the NYSE from the OTCQX Marketplace.
CoastalSouth Bancshares’ stock is expected to start trading tomorrow – Wednesday, July 2, 2025 – on the New York Stock Exchange.
The company’s flagship bank, Coastal States Bank, operates 11 branches in Georgia and South Carolina, according to the prospectus. The bank serves the Atlanta, Georgia, metropolitan area, as well as Savannah, Georgia, and the Low Country of South Carolina.
CoastalSouth Bancshares, Inc. is profitable, according to financial statements in the prospectus: Net income of $24.53 million on revenue of $72.1 million for the 12 months that ended March 31, 2025.
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