Raymond James, Keefe, Bruyette & Woods, Sandler O’Neill help with deal
By Devika Patel
Knoxville, Tenn., Dec. 9 – Carolina Financial Corp. priced a $30 million public offering of stock with a $4.5 million greenshoe, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission. The deal was announced Nov. 30.
The company will sell 1,967,214 common shares at $15.25 apiece. The price per share is a 3.48% discount to the Dec. 8 closing share price of $15.80.
Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, Inc. are the bookrunners.
Settlement is expected Dec. 14.
Proceeds will be used for growth and general corporate purposes, which may include contributing a portion of the proceeds to CresCom Bank as additional capital.
The bank holding company is based in Charleston, S.C.
| Issuer: | Carolina Financial Corp.
|
| Issue: | Common shares
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| Amount: | $30 million
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| Greenshoe: | $4.5 million, or 295,082 shares
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| Shares: | 1,967,214
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| Price: | $15.25
|
| Warrants: | No
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| Bookrunners: | Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, Inc.
|
| Co-manager: | Sandler O’Neill + Partners, LP
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| Announcement date: | Nov. 30
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
|
| Stock symbol: | Nasdaq: CARO
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| Stock price: | $15.80 at close Dec. 8
|
| Market capitalization: | $156.54 million
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