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First South Bancorp, Inc. Closes $16.5M Private Placement

Published June 30, 2017

First South Bancorp, Inc. (OTC Pink: FSBS) completed its private placement of 22,000,000 shares at $0.75 per share for gross proceeds of $16.5 million.

  • First South Bancorp, Inc. is a bank holding company headquartered in Spartanburg, SC and its wholly-owned banking subsidiary, First South Bank, operates 4 branches in South Carolina
  • The offering was oversubscribed by institutional investors
  • The Company intends to use the net proceeds for general corporate purposes, including pursuing strategic alternatives and supporting organic growth

Hovde Group, LLC acted as Sole Placement Agent in the Offering.

Click the link above to download the full Transaction Alert.