Carolina Financial in Charleston, S.C., is planning to raise $44 million.
The $1.7 billion-asset company said in a press release Friday that it will sell about 1.6 million shares of common stock in a public offering at $28 each.
Net proceeds could increase to $47.7 million if there is demand for additional shares. The offering is expected to close on Jan. 25.
Raymond James and Keefe, Bruyette & Woods are the book-running managers, while Stephens Inc. is co-manager.
Carolina Financial said it plans to use the net proceeds to support organic growth and acquisitions. It could also contribute a portion of the proceeds to its CresCom Bank as additional capital.