Southern First Bancshares, Inc. Announces Public Offering of Common Stock

Rhea-AI Summary

Southern First Bancshares (NASDAQ: SFST) announced an underwritten public offering of common stock on April 15, 2026. The company said it will grant underwriters a 30-day option to buy up to an additional 15% of the shares. Net proceeds are intended for general corporate purposes, including supporting organic growth, providing capital to the bank subsidiary, redeeming or repurchasing indebtedness such as subordinated debt, and working capital. Piper Sandler is sole book-running manager and Keefe Bruyette & Woods is co-manager. The company filed a shelf registration (File No. 333-293279) and a preliminary prospectus supplement with the SEC.

Positive

• Underwritten offering provides access to capital for corporate needs
• 30-day 15% option gives underwriters flexibility to stabilize the offering
• Proceeds usable for bank subsidiary capital, supporting balance-sheet strength

Negative

• No offering size, share count, or price range disclosed in the announcement
• Use of proceeds described as general corporate purposes without specific allocations

News Market Reaction – SFST

-6.37% 3.5x vol

17 alerts

-6.37% Session close to close

-2.5% Trough in 16 min

$485.54M Market Cap

3.5x Rel. Volume

In the Apr 16 session, SFST declined 6.37%, reflecting a notable negative market reaction. Argus tracked a trough of -2.5% from its starting point during tracking. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. Trading volume was very high at 3.5x the daily average, suggesting heavy selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -6.4% in the session following this news. A negative reaction despite recent strong ...

Analysis

The stock moved -6.4% in the session following this news. A negative reaction despite recent strong earnings would fit typical concerns around common stock offerings, where dilution and pricing terms weigh on sentiment. The deal uses an effective S-3 shelf for up to $125,000,000 in securities and includes a 30-day option to buy an additional 15 percent of shares. Investors may also weigh insider net selling over the last 90 days when reassessing valuation.

Key Figures

Shelf capacity: $125,000,000 Current price: $58.85 52-week range: $30 – $62 +5 more

8 metrics

Shelf capacity $125,000,000 S-3 shelf registration filed 2026-02-06

Current price $58.85 Prior to offering announcement

52-week range $30 – $62 Pre-offering trading range

Price vs 52-week high -5.08% Position relative to 52-week high before news

200-day MA $48.83 Pre-offering trend indicator

Greenshoe option 30 days Underwriters’ option exercise period

Additional shares option 15 percent Underwriters’ option size relative to base deal

Shelf file number 333-293279 SEC registration statement reference

Historical Context

2 past events · Latest: Jan 22 (Positive)

Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 22	Q4 2025 earnings	Positive	+3.4%	Stronger net income, EPS and margin expansion with solid asset quality.
Oct 28	Q3 2025 earnings	Positive	+6.1%	Higher EPS, revenue growth and improved net interest margin with strong capital.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent earnings reports with improving profitability and margins were followed by positive price reactions, suggesting investors have rewarded fundamental strength.

Recent Company History

In the past two quarters, Southern First reported strong fundamental trends. On Oct 28, 2025, Q3 2025 results showed higher net income, EPS of $1.07, and a net interest margin of 2.62%, with the stock rising 6.13% the next day. On Jan 22, 2026, Q4 2025 results included net income of $9.9M, EPS of $1.21, and a margin of 2.72%, with a 3.36% positive reaction. Today’s offering follows this period of earnings-driven strength.

Key Terms

underwritten public offering, shelf registration statement, base prospectus, preliminary prospectus supplement, +3 more

7 terms

underwritten public offering financial

"it has launched an underwritten public offering of shares of its common stock"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

shelf registration statement regulatory

"The Company has filed a shelf registration statement (File No. 333-293279)"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

base prospectus regulatory

"including a base prospectus, and a preliminary prospectus supplement"

A base prospectus is a detailed document that provides essential information about a financial offering, such as a bond or share issue. It acts like a comprehensive guide for investors, explaining what the investment involves, the risks involved, and how the process works. This helps investors make informed decisions before committing their money.

preliminary prospectus supplement regulatory

"including a base prospectus, and a preliminary prospectus supplement with the"

A preliminary prospectus supplement is an initial document that provides important details about a new stock or bond offering before it is finalized. It helps investors understand what is being sold and why, so they can decide whether to invest. Think of it as a preview before the full sales brochure is ready.

prospectus supplement regulatory

"expects to file a prospectus supplement relating to the offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

book-running manager financial

"Piper Sandler & Co. is serving as the sole book-running manager for the offering"

A book-running manager is the lead organizer responsible for coordinating a large financial sale, such as issuing new stocks or bonds. They oversee preparing all necessary documents, setting the sale’s price, and finding buyers, much like a concert promoter arranging a major event. Their role matters to investors because they help ensure the offering is successfully sold at the best possible terms.

edgar regulatory

"You may get these documents for free by visiting EDGAR on the SEC website"

EDGAR is a system used by companies to share important financial and business information with the public. It functions like an online filing cabinet where investors can access official reports and documents that help them understand a company's financial health and operations. This transparency allows investors to make more informed decisions, much like checking a company's report card before investing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GREENVILLE, S.C., April 15, 2026 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST) (the "Company," "we," "us," or "our") today announced that it has launched an underwritten public offering of shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock sold in connection with the offering. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, supporting organic growth initiatives, providing capital to our bank subsidiary, redeeming or repurchasing outstanding indebtedness, including subordinated debt, and for working capital purposes.

Piper Sandler & Co. is serving as the sole book-running manager for the offering. Keefe, Bruyette & Woods, A Stifel Company, is serving as co-manager.

This announcement is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Company has filed a shelf registration statement (File No. 333-293279), including a base prospectus, and a preliminary prospectus supplement with the Securities and Exchange Commission ("SEC") relating to the offering, and expects to file a prospectus supplement relating to the offering. The offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, the prospectus supplement when available, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov or, alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering, and the prospectus supplement when available, may be obtained by contacting Piper Sandler & Co., Attn: Prospectus Department, by Telephone: (800) 747-3924 or Email: prospectus@psc.com or Keefe, Bruyette & Woods, Inc., Attn: Equity Capital Markets, by Telephone: (800) 966-1559 or Email: uscapitalmarkets@kbw.com.

ABOUT SOUTHERN FIRST BANCSHARES, INC.
Southern First Bancshares, Inc., Greenville, South Carolina, is a registered bank holding company incorporated under the laws of South Carolina. The Company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.4 billion and its common stock is traded on The NASDAQ Global Market under the symbol "SFST."

FORWARD-LOOKING STATEMENTS
Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to the completion, timing and expected size of the offering, the anticipated closing date of the offering, the anticipated use of proceeds from the offering, future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believe," "expect," "anticipate," "estimate," "preliminary", "intend," "plan," "target," "continue," "lasting," and "project," as well as similar expressions. Such statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of forward-looking information should not be construed as a representation by the Company or any other person that the future events, plans or expectations described herein will be achieved.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations may be different than expected; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in legislation, regulation, policies or administrative practices, whether by judicial, governmental or legislative action, including, but not limited to, changes affecting oversight of the financial services industry or consumer protection, the regulatory landscape or capital market; (5) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could continue to have a negative impact on the Company, including the timing, size, pricing or completion of the offering; (6) changes in interest rates, which may continue to affect the Company's net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the Company's assets, including its investment securities; (7) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (8) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (9) changes in accounting principles, policies, practices, or guidelines. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC's Internet site (www.sec.gov). All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

MEDIA CONTACT:
ART SEAVER 864-679-9010

FINANCIAL CONTACT:
CHRIS ZYCH 864-679-9070

WEB SITE: www.southernfirst.com

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SOURCE Southern First Bancshares, Inc.

FAQ

What did Southern First Bancshares (SFST) announce on April 15, 2026 about a stock offering?

The company launched an underwritten public offering of common stock on April 15, 2026. According to the company, underwriters have a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

How will Southern First Bancshares (SFST) use the proceeds from the April 15, 2026 offering?

Net proceeds will be used for general corporate purposes, including capital for the bank subsidiary. According to the company, proceeds may also redeem or repurchase indebtedness and fund working capital and growth initiatives.

Who are the managers of the Southern First Bancshares (SFST) April 2026 offering?

Piper Sandler is serving as sole book-running manager and Keefe, Bruyette & Woods is co-manager. According to the company, investors can obtain prospectus materials through those firms.

Did Southern First Bancshares (SFST) disclose the size or price range of the offering on April 15, 2026?

No, the company did not disclose the offering size or price range in the announcement. According to the company, a prospectus supplement is expected to be filed with the SEC with additional details.

Where can investors find the prospectus and registration materials for SFST's April 2026 offering?

Investors can obtain documents free via the SEC EDGAR site or from the managing banks. According to the company, the shelf registration (File No. 333-293279) and preliminary prospectus supplement are filed with the SEC.