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Underwriters partly exercise overallotment option in Carolina Trust offering

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Underwriters partly exercise overallotment option in Carolina Trust offering

Underwriters in Carolina Trust BancShares Inc.'s common stock offering exercised their overallotment option in part, buying an additional 186,000 shares at $8 per share.

The Lincolnton, N.C.-based company expects to receive additional net proceeds of $1.4 million from the exercise of the overallotment option.

The additional shares were delivered to the underwriters May 14.

Sandler O'Neill & Partners LP served as the sole book-running manager for the offering.