Sidley is representing Castle Creek Capital Partners VIII, LP (Castle Creek) in its investment agreement with Third Coast Bancshares, Inc. (Third Coast), the holding company for Third Coast Bank, SSB (the Bank). Third Coast expects to raise aggregate gross proceeds of US$69.4 million through the issuance of non-cumulative convertible preferred stock. Third Coast expects to close the offering, subject to customary closing conditions, on September 22, 2022. A representative from Castle Creek will immediately join the board of directors of the company and the Bank following the closing of the transaction.
The Sidley team is being led by Vijay Sekhon (M&A and Private Equity), and includes Ryan Hicks (M&A and Private Equity); and Michael Lewis and Matthew Katz (Banking and Financial Services).