CoastalSouth Bancshares, a community bank with 11 branches across South Carolina and Georgia, raised $44 million in a downsized IPO by offering 2 million shares (16% secondary) at $21.50, the low end of the range of $21.50 to $23.50. The Atlanta, GA-based company originally filed to offer 2.6 million shares, including the same number of primary shares.
CoastalSouth Bancshares plans to list on the NYSE under the symbol COSO. Piper Sandler acted as sole bookrunner on the deal.
