Greenville, South Carolina, April 15, 2026 – Southern First Bancshares, Inc. (NASDAQ: SFST) (the “Company,” “we,” “us,” or “our”) today announced the pricing of an underwritten public offering of 1,050,000 shares of its common stock at a price of $54.00 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 157,500 shares of common stock.
The aggregate gross proceeds of the offering will be approximately $56.7 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $65.2 million before discounts and expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth initiatives, providing capital to the Company’s bank subsidiary, redeeming or repurchasing outstanding indebtedness, including subordinated debt, and for working capital purposes. The offering is expected to close on April 17, 2026, subject to customary closing conditions.
Piper Sandler & Co. is serving as the sole book-running manager for the offering. Keefe, Bruyette & Woods, A Stifel Company, is serving as co-manager.
This announcement is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Company has filed a shelf registration statement (File No. 333-293279), including a base prospectus, and a preliminary prospectus supplement with the Securities and Exchange Commission (“SEC”) relating to the offering, and expects to file a prospectus supplement relating to the offering. The offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, the prospectus supplement when available, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov or, alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering, and the prospectus supplement when available, may be obtained by contacting Piper Sandler & Co., Attn: Prospectus Department, by Telephone: (800) 747-3924 or Email:
[email protected] or Keefe, Bruyette & Woods, Inc., Attn: Equity Capital Markets, by Telephone: (800) 966-1559 or Email:
[email protected].
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