Amerant Bancorp Inc. (NYSE: AMTB) has announced the successful closing of its public offering of 8,684,210 shares of Class A voting common stock at a price of $19.00 per share, generating gross proceeds of approximately $165 million. This includes 784,210 shares issued from the full exercise of the underwriters’ option to purchase additional shares.
Jerry Plush, Chairman and CEO of Amerant, stated, “This capital raise and follow-on investment portfolio repositioning marks the completion of our multi-year transformation at Amerant. The success of this offering enhances our ability to pursue organic growth and demonstrates investor confidence in our vision.”
The offering was managed by Stephens Inc. and Piper Sandler & Co., with Keefe, Bruyette & Woods, and Raymond James acting as co-managers. After deducting underwriting discounts, Amerant received net proceeds of approximately $156.7 million, which will be used for general corporate purposes, including working capital, resolution of non-performing loans, investments in its banking subsidiary, and balance sheet optimization strategies.
Amerant Bancorp Inc., headquartered in Coral Gables, Florida, operates through its primary subsidiary, Amerant Bank, N.A., and provides deposit, credit, and wealth management services. The bank operates 25 banking centers in South Florida, Tampa, and Houston, Texas.
For more details, visit Amerant Investor Relations.
Cautionary Notice Regarding Forward-Looking Statements
This release includes forward-looking statements, such as the anticipated use of proceeds from the offering. Actual results may differ due to risks and uncertainties, which are discussed in the company’s SEC filings. Forward-looking statements should not be considered guarantees of future performance.
