New Issue: First Reliance receives agreements for $4.62 million in private placement of stock

By Sheri Kasprzak

Atlanta, Jan. 6 - First Reliance Bancshares Inc. has raised $4,619,607 in a private placement of stock.

The company sold 401,705 shares at $11.50 each to 34 accredited investors on Dec. 30.

First Reliance is a holding company for First Reliance Bank in Florence, S.C.

Issuer:	First Reliance Bancshares Inc.
Issue:	Stock
Amount:	$4,619,607
Shares:	401,705
Price:	$11.50
Warrants:	No
Settlement date:	Dec. 30
Stock price:	$12.55 at close Dec. 30

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