FIG Partners Managed $20 Million Stock Offering For South Atlantic Bancshares

FIG Has Now Completed 21 Equity Capital Raises Since 2015
Totaling More Than $500 Million

ATLANTA, March 29, 2017 — South Atlantic Bancshares, Inc. (OTCQX:SABK), the parent company of South Atlantic Bank, has announced the completion of a $20 million private placement of common stock.

placement agentFIG Partners served as sole placement agent for South Atlantic Bancshares. The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Eric Lawless, Principal and Head of Corporate Development; and Matthew Veneri, Managing Principal and Co-Head of Investment Banking; and Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets. 

“The capital raise will support the bank’s continued growth and expansion,” said South Atlantic Bancshares Chairman and Chief Executive Officer K. Wayne Wicker. “Since its opening in late 2007, the bank has grown to six offices, all located in some of the fastest-growing areas in the country. Additionally, improving economic conditions are fueling interest in expansion and new projects throughout our markets.”

More information from South Atlantic Bancshares is available here.

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