SOUTHERN FIRST BANCSHARES INC 8-K

What Happened
Southern First Bancshares, Inc. (SFST) announced on April 15, 2026 that it priced an underwritten public offering of 1,050,000 shares of its common stock at $54.00 per share. Piper Sandler & Co. is the representative of the underwriters (which include Keefe, Bruyette & Woods, Inc.). The company also granted the underwriters a 30-day option to purchase up to an additional 157,500 shares. After underwriting discounts, commissions and estimated offering expenses, SFST expects net proceeds of approximately $53.2 million, or about $61.3 million if the underwriters exercise the full option.

Key Details

• Offering size: 1,050,000 shares of common stock priced at $54.00 per share (plus option for 157,500 additional shares).
• Expected net proceeds: ~$53.2 million (or ~$61.3 million if option exercised in full).
• Underwriters: Piper Sandler & Co. (representative); Keefe Bruyette & Woods among the syndicate.
• Lock-up: Company directors and certain executives agreed to customary 90‑day lock-up restrictions on specified shares.
• Registration: Shares registered under the company’s effective Form S-3 (declared effective Feb 13, 2026).

Why It Matters
This offering will raise capital for Southern First Bancshares and will increase the company’s outstanding shares, which can dilute existing shareholders. The 90‑day insider lock-up limits executive and director sales immediately after the offering. Investors should note the potential impact on share count and monitor whether the underwriters exercise their option, which would increase proceeds and dilution.