LINCOLNTON, N.C., April 24, 2018 (GLOBE NEWSWIRE) -- Carolina Trust BancShares, Inc. (the “Company”) (NASDAQ:CART), today announced the closing of its underwritten follow-on public offering of 2,310,000 shares of its common stock at a price to the public of $8.00 per share for aggregate gross proceeds of approximately $18.5 million. The offering closed on April 23, 2018. After deducting the underwriting discount and estimated offering expenses, the Company expects to receive net proceeds of approximately $17.1 million. 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.

Sandler O’Neill + Partners, L.P. served as the sole book-running manager for the offering. The securities described above were issued pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on Form S-1 (File No. 333-224178).

Additional Information Regarding the Offering

A registration statement relating to these securities has been filed with the SEC and was declared effective by the SEC on April 18, 2018. The registration statement the Company has filed with the SEC can be obtained by visiting EDGAR on the SEC website at www.sec.gov.