Coastal Financial prices 1.2M share offering at $71, gross proceeds $85.2M

COASTAL FINANCIAL CORP

Pricing of 1,200,000 shares at $71.00 per share; underwriters' option for 180,000 additional shares exercised in full.
Gross proceeds ~$85.2M; with full exercise of option expected ~$98.0M gross; net proceeds ~$91.8M.
Proceeds to be used for general corporate purposes, including supporting investment opportunities and the Bank's growth.
Offering expected to close on December 12, 2024, subject to customary closing conditions.

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