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EVERETT, Wash., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation CCB ("Coastal" or the "Company"), the holding company for Coastal Community Bank (the "Bank"), today announced the launch of a proposed underwritten public offering of shares of its common stock, no par value. Coastal expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its Common Stock sold in this offering at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, supporting investment opportunities and the Bank's growth. Keefe, Bruyette & Woods, a Stifel company , is serving as the lead bookrunning manager, Hovde Group, LLC is serving as a joint bookrunning manager and Raymond James & Associates, Inc. and Stephens Inc. are serving as co-managers for the proposed offering. The shares of common stock will be issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-279879) filed by Coastal with the U.S. Securities and Exchange Commission (the "SEC"), which was declared effective by the SEC on June 13, 2024. A preliminary prospectus supplement related to the offering has been filed with the SEC and a final prospectus supplement relating to this offering will be filed with the SEC. Prospective investors should read the preliminary prospectus supplement, the final prospectus supplement, when available, and other documents Coastal has filed with the SEC for more complete information about Coastal and the offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov . Copies of the preliminary prospectus supplement, the final prospectus supplement, when available, and the accompanying prospectus relating to this offering may be obtained by contacting Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, Fourth Floor, New York, NY 10019, attention: Equity Capital Markets, or by calling toll free at (800) 966-1559 or emailing USCapitalMarkets@kbw.com. This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities, nor shall there be any offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Coastal Financial Corporation Coastal Financial Corporation CCB (the "Company"), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank ("Bank") and Arlington Olympic LLC. The $4.07 billion Bank provides service through 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application. The Bank provides banking as a service to broker-dealers, digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank's CCBX segment. Member FDIC. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance and statements regarding the proposed offering. Any statements about our management's expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Any or all of the forward-looking statements in this press release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this press release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward- looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risks and uncertainties discussed under "Risk Factors" in our Annual Report on Form 10-K for the most recent period filed, our Quarterly Report on Form 10-Q for the most recent quarter, and in any of our other filings with the SEC. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. Contact: Joel Edwards CFO 425.357.6987 Jedwards@coastalbank.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cesar Hernandez, who was sentenced in 2019 to 80 years to life with the possibility of parole for first-degree murder, escaped Monday morning shortly after arriving at the Kern County courthouse in Delano, a city of around 50,000 in central California. As of Thursday, he had still not been found. He was being transported to appear in court after pleading no contest to manufacturing a weapon and possessing alcohol or drugs in prison when he evaded staff and jumped out of the van, officials said. “Hernandez is considered dangerous,” Delano police said in a social media post. “If you see him, do not approach.” Cesar Guzmán, 32, was only blocks away at his barber shop from the intersection where Hernandez escaped. It’s been the “number one topic at the shop” since. “Everyday we talk about it,” Guzmán said. “The clients are, they’re scared because they haven’t found him. We’re really close to where it happened.” Delano has been inundated with a heavy law enforcement presence since Hernandez’s escape, with police knocking on doors and helicopters whirring overhead. Guzmán said it’s the first time something like this has happened in the town, where he has lived his whole life. Several local schools locked down Monday, and they remained closed through Thursday as the search continued, local school districts posted on Facebook. The city postponed its tree-lighting ceremony originally scheduled for Wednesday, and the Delano Chamber of Commerce delayed its annual Christmas parade scheduled for Thursday night. Hernandez remaining at large puts a damper on the festivities, which Guzmán and his family have attended every year. “Honestly, now we’re kind of like, ‘How can he get away from them? What the heck happened?’" Guzmán said. Hernandez, 34, was convicted of shooting a man after leaving a bar in south Los Angeles, according to appellate court filings. He had gotten into a “heated argument” with his girlfriend at the bar earlier that night and was looking for her after she left. The victim was at the bar but did not have contact with either Hernandez or his girlfriend, the filings said. As the man drove away from the bar in his pickup truck, Hernandez was seen following him in his car before getting out to shoot him. It's unclear from the filings what motivated the shooting. Hernandez was last seen wearing an orange top and pants. He is 5 feet, 5 inches tall, weighs about 160 pounds, and has brown eyes and black hair. He was transferred from Los Angeles County in June 2019. Anyone who sees Hernandez or has knowledge of his location is asked to contact law enforcement or call 911. On the other side of the country, another search was underway for the man who gunned down United Healthcare CEO Brian Thompson in New York on Monday. Police were following tips related to his whereabouts, including searching two hostels where the man may have stayed.Georgetown ventures out of D.C. for first time to face West Virginia(Reuters) -The Federal Deposit Insurance Corporation has started to more closely track financial technology companies that partner with banks across the U.S., Bloomberg News reported on Wednesday. An internal database will help FDIC examiners track third parties that work with banks, and anticipate potential vulnerabilities before they become a problem, the report added, citing people familiar with the regulator’s supervisory operations. The FDIC does not directly regulate fintech companies. An FDIC spokesperson declined to comment on internal processes. (Reporting by Disha Mishra in Bengaluru; Editing by Rashmi Aich and Jonathan Oatis) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
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Lundin Mining Publishes Swedish Short Form Document for Offer of New Lundin Mining Shares in Connection with the Acquisition of Filo Corp.Abortions are up in the US. It's a complicated picture as women turn to pills, travelGeorgetown ventures out of D.C. for first time to face West Virginia
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