HUMBLE, Texas, (BUSINESS WIRE) -- Third Coast Bancshares, Inc. (“Third Coast”), the bank holding company for Third Coast Bank, SSB, announced today the launch of its initial public offering of shares of its common stock. Third Coast intends to offer 3,000,000 shares of its common stock and also expects to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. The initial public offering price is expected to be between $24.00 and $26.00 per share. In connection with the initial public offering, Third Coast intends to list its common stock on the NASDAQ Global Select Market under the trading symbol “TCBX.”
Third Coast intends to use the net proceeds from this offering to support its continued growth, including organic growth and potential future acquisitions, and for general corporate purposes.
Stephens Inc., Piper Sandler & Co. and Deutsche Bank Securities are acting as joint book-running managers for this offering.
This offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from Stephens Inc., P.O. Box 3507, Little Rock, Arkansas 72203, or by calling (800) 643-9691 or by emailing email@example.com , Piper Sandler & Co., 1251 Avenue of the Americas, 6 [th] Floor, New York, New York 10020, or by calling (800) 747-3924 or by emailing firstname.lastname@example.org , or Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, or by calling (800) 503-4611 or by emailing email@example.com .
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A bout Third Coast Bancshares, Inc.
Third Coast Bancshares, Inc. is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank, SSB. Founded in 2008 in Humble, Texas, Third Coast Bank, SSB conducts banking operations through 12 branches and one loan production office encompassing the four largest metropolitan areas in Texas. As of June 30, 2021, Third Coast Bancshares, Inc. had, on a consolidated basis, $2.0 billion in total assets, $1.6 billion in total loans outstanding and $1.8 billion in total deposits.
This press release contains forward-looking statements, which involve risks and uncertainties. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Third Coast undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.
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SOURCE: Third Coast Bancshares, Inc.
Chairman, Chief Executive Officer and President
(281) 570-1800 John McWhorter
Chief Financial Officer
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