First Capital Bancshares Completes $12 Million Private Placement

CHARLESTON, SC—First Capital Bancshares, Inc., the parent company of First Capital Bank, successfully completed a private placement of shares, raising gross proceeds of $12 million. Initially set at $10 million, the offering was increased due to strong investor demand, with shares priced at $9.75 each. This capital will primarily support the expansion and enhancement of the Bank's operations and services.

Chairman and CEO Harvey L. Glick highlighted the enthusiastic participation from both new and existing investors, underlining the commitment to use the new funds to boost client services and shareholder value. The placement involved accredited individual and institutional investors and was conducted under Securities Act exemptions, not requiring registration.