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Carolina Financial files for common stock offering

Carolina Financial Corp. has agreed to sell 1.5 million of its common shares in an underwritten public offering.

In addition, certain of the company's executive officers and directors have agreed to sell 96,350 of their shares of the company's common stock in the offering.

Based on Carolina Financial's June 8 closing stock price of $42.76, S&P Global Market Intelligence calculates a gross offering size of approximately $68.3 million.

The company will not receive any proceeds from the sale of shares by the selling stockholders.

Carolina Financial plans to use the net proceeds of the offering for general corporate purposes, including potential future acquisitions and to support organic growth.

Raymond James & Associates Inc. is acting as the sole book-running manager for the offering.