First Capital Bancshares, Inc., the parent company of First Capital Bank, concluded a private placement of common stock, raising $12 million from accredited individual and institutional investors. The offering was initially intended to raise $10 million, but due to high demand, the board increased the size. The funds will be used to support the continued growth of the company’s franchise, investment in the bank, and for general corporate purposes. Shares were sold at $9.75 each. Chairman and CEO Harvey L. Glick expressed satisfaction with the level of investor interest and the opportunities this new capital will provide in enhancing client services and shareholder value. The private placement was not registered under the Securities Act of 1933 or state securities laws, limiting its offer and sale conditions. First Capital Bancshares, headquartered in Charleston, South Carolina, had consolidated assets of approximately $811 million as of March 31, 2024. The firm operates in both South Carolina and North Carolina, with plans for new locations in Pinehurst, NC. As forward-looking statements are inherently subject to risks and uncertainties, actual results could vary significantly.
Financial Services, Investment Banking,United States, South Carolina, North Carolina
https://www.newswire.com/news/first-capital-bancshares-announces-completion-of-12-million-private-22332545