Update, October 15th: It's official. Andre Bauer is running for the 7th Congressional District seat. He filed paperwork with the Federal Election Commission yesterday.
See this brief write-up by WBTW for more information.
First report: Bauer told the Columbia Free Times this week that he was "probably going to run for [the open 7th Congressional District seat]."
According to the Free Times post, Bauer retired to Myrtle Beach earlier this year after serving as Lieutenant Governor of South Carolina and losing the race for the Governor's position in the 2010 election. A story on Roll Call also confirms his intentions to run. He has also served in the SC House of Representatives and SC State Senate. According to Wikipedia, Bauer is a Charleston native.
At the time of this writing, only 2 people have officially announced their candidacy for the "SC 7th". Both are Myrtle Beach residents, Thad Viers and Parnell Diggs. For back story on how this 7th seat has come to be, read our story on South Carolina's shifting House seats.