IPO - CoastalSouth Bancshares, Inc.

Form Type: S-1

Filing Date: 2025-06-06

Corporate Action: Ipo

Type: New

Accession Number: 000095017025083183

Filing Summary: CoastalSouth Bancshares, Inc. is filing a registration statement for its initial public offering (IPO) under the Securities Act of 1933. The company is headquartered in Atlanta, Georgia, and operates as a bank holding company, providing a range of banking services through its subsidiary, Coastal States Bank. The offering will include shares of voting common stock, which will be sold at a fixed price as part of this IPO. The company’s common stock is currently quoted on the OTC Market Group's OTCQX Best Market under the symbol 'COSO.' The filing indicates that the initial public offering price is expected to be set between certain unspecified amounts, with the last reported sale price of the common stock prior to this filing being $21.00 per share. The company aims to list its stock on the New York Stock Exchange under the same symbol. This prospectus outlines the company's history, organizational structure, management team, financial performance, and business strategies, including a focus on expanding their community banking operations and several specialty lines of business such as Senior Housing Lending and Marine Lending. The company qualifies as an 'emerging growth company' and a 'smaller reporting company,' allowing it to take advantage of reduced disclosure requirements. This document serves as a preliminary prospectus, indicating that details may change prior to the finalization of the offering.

Form Type: DRS/A

Filing Date: 2025-05-01

Corporate Action: Ipo

Type: New

Accession Number: 000095012325003964

Filing Summary: CoastalSouth Bancshares, Inc. is initiating its initial public offering (IPO) to sell shares of its common stock. The offering includes shares from both the company and selling shareholders. The registration statement has been submitted but is confidential and has not yet been publicly filed. The common stock is expected to be listed on the New York Stock Exchange with the symbol 'COSO'. The company aims to raise funds to further its capital position and bolster its community bank operations, particularly in fast-growing markets. The company has identified various specialty lines of business, including Marine Lending and Government Guaranteed Lending, which will also contribute to profitability. As an emerging growth company, CoastalSouth Bancshares benefits from reduced regulatory requirements, aiming to attract investors in its targeted regions. This offering represents a significant opportunity for investment, capitalizing on the company's growth strategy and market conditions.

Form Type: DRS

Filing Date: 2025-03-05

Corporate Action: Ipo

Type: New

Accession Number: 000095012325002995

Filing Summary: CoastalSouth Bancshares, Inc. has filed a draft registration statement for an initial public offering (IPO) of common stock. The company is a bank holding firm headquartered in Atlanta, Georgia, operating through its subsidiary, Coastal States Bank. They provide a wide array of banking services targeted at businesses, real estate professionals, and individual consumers. The offering aims to list shares on the New York Stock Exchange under the symbol “COSO.” They plan to offer a fixed price for the shares and clarify that the company will not receive proceeds from shares sold by existing shareholders. The prospectus outlines the company's growth strategies, which include organic growth, acquisitions, and diversifying business lines. Key highlight areas include the identification of their community banking operations and specialty lines of business in senior housing, marine lending, government guaranteed lending, and mortgage banker finance as drivers of their growth strategy. The document also emphasizes the potential risks involved in investing in their common stock and mentions they are classified as an emerging growth and smaller reporting company, which provides them relief from certain reporting requirements.