MYRTLE BEACH, SC / ACCESS Newswire / December 19, 2025 / Coastal Carolina Bancshares, Inc. (OTCQX:CCNB) (the "Company" or "CCNB"), parent company of Coastal Carolina National Bank, announced today that it has entered into Securities Purchase Agreements providing for the issuance of $15 million in common equity at a price of $12.50 per share to institutional and certain accredited investors. The Company intends to use the proceeds from the common equity issuance for general corporate purposes, including strengthening regulatory capital and supporting ongoing strategic growth initiatives.
Raymond James & Associates, Inc. acted as sole placement agent in the transaction. Wyrick Robbins Yates & Ponton LLP served as legal counsel to the Company and Ward and Smith, P.A. served as legal counsel to the placement agent.
The shares of the Company's common stock referenced above have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold absent registration or an appliable exemption from registration requirements.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and will not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
About Coastal Carolina Bancshares, Inc. Coastal Carolina Bancshares, Inc. is the holding company for Coastal Carolina National Bank, a Myrtle Beach-based community bank serving the South Carolina counties of Horry, Georgetown, Aiken, Richland, Greenville, Spartanburg, and Orangeburg, along with the North Carolina counties of New Hanover and Brunswick. The bank is a locally operated financial institution focused on providing personalized services, mortgages, and a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. Headquartered in Myrtle Beach, SC, the bank also has full-service branches in Garden City, North Myrtle Beach, Conway, Aiken, Columbia, Greenville, Spartanburg, Orangeburg, South Carolina, and Ocean Isle Beach (NC). Through the substantial experience of our local management and Board of Directors, the Company and the bank seek to enhance value for our shareholders, build lasting customer relationships, benefit our communities, and give our employees meaningful career opportunities.
Caution Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about the intended use of proceeds from the offering described herein. Any such forward-looking statements are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from those expressed or implied by the forward-looking statements as a result of various risks, uncertainties and other factors. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.
Contact:
Russell Vedder
Title: EVP/CFO
Phone: (843) 839-5662
Fax: (843) 839-5699
SOURCE: Coastal Carolina Bancshares, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/coastal-carolina-bancshares-inc.-announces-common-equity-private-pla-1119724