Coastal Financial Corporation announces public offering of common stock for general corporate purposes

From GlobeNewswire: 2024-12-10 16:04:00

Coastal Financial Corporation (NASDAQ: CCB) has announced a proposed underwritten public offering of shares of its common stock, with the goal of raising funds for general corporate purposes and supporting investment opportunities for Coastal Community Bank. The offering will grant underwriters a 30-day option to purchase additional shares. The lead bookrunning manager is Keefe, Bruyette & Woods, with Hovde Group, LLC as a joint bookrunning manager and Raymond James & Associates, Inc. and Stephens Inc. as co-managers. The shares will be issued under an effective shelf registration statement on Form S-3 filed with the SEC.

Coastal Financial Corporation, the parent company of Coastal Community Bank, based in Everett, Washington, is offering its common stock through an underwritten public offering. The bank, with $4.07 billion in assets, provides services through 14 branches in Snohomish, Island, and King Counties. The offering aims to support investment opportunities and the bank’s growth. Forward-looking statements have been made in relation to the offering, with an emphasis on the potential financial performance and future events for the company. Investors can access documents related to the offering through the SEC.



Read more at GlobeNewswire: Coastal Financial Corporation Announces Proposed Public