LINCOLNTON, N.C., April 16, 2018 (GLOBE NEWSWIRE) -- Carolina Trust BancShares, Inc. (NASDAQ:CART), parent company of Carolina Trust Bank, announced today that it has commenced an underwritten public offering of 2,200,000 shares of its common stock. The Company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

Sandler O’Neill + Partners, L.P. is serving as the sole book-running manager for the offering. The shares will be issued pursuant to a registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-1 (File No. 333-224178).

The Company expects to use the net proceeds from this offering to support the continued growth of its franchise and for other general corporate purposes.

About Carolina Trust BancShares, Inc.

Carolina Trust BancShares, Inc. is a bank holding company and the parent company of Carolina Trust Bank. Carolina Trust Bank is a full-service, state-chartered bank headquartered in Lincolnton, N.C., operating nine full-service offices in Lincoln, Catawba, Gaston, Iredell and Rutherford Counties in western North Carolina and a loan production office in Salisbury, N.C.