Amerant Bancorp Inc. Announces Pricing of Class A Voting Common Stock Offering
September 26 2024 - 8:31AM
Business Wire
Amerant Bancorp Inc. (NYSE: AMTB) (“Amerant” or the “Company”)
today announced the pricing of its public offering of 7,900,000
shares of its Class A voting common stock (the “common stock”), at
a price to the public of $19.00 per share, for an aggregate
offering amount of $150 million. In addition, the Company has
granted the underwriters a 30-day option to purchase up to an
additional 784,210 shares of common stock at the public offering
price, less underwriting discounts.
Stephens Inc. and Piper Sandler & Co. are acting as joint
book-running managers for the offering. Keefe, Bruyette &
Woods, A Stifel Company, and Raymond James & Associates, Inc.
are acting as co-managers.
The Company intends to use the net proceeds of the offering for
general corporate purposes and to support its continued organic
growth, which may include, among other things, working capital,
investments in Amerant Bank, N.A., resolution of non-performing
loans, and potential balance sheet optimization strategies.
The Company expects to close the offering, subject to customary
conditions, on or about September 27, 2024.
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. The Company has filed
a registration statement on Form S-3 (File No. 333-272886), and a
preliminary prospectus supplement to the base prospectus contained
in the registration statement with the U.S. Securities and Exchange
Commission (the “SEC”) for the shares of common stock to which this
communication relates and will file a final prospectus supplement
relating to the shares of common stock. Prospective investors
should read the prospectus supplement and base prospectus in the
registration statement and other documents the Company has filed or
will file with the SEC for more complete information about the
Company and the offering. You may obtain these documents for free
by visiting the SEC’s website at www.sec.gov. Alternatively, you
may request copies of the base prospectus and preliminary
prospectus supplement by contacting Stephens Inc. by telephone at
(800) 643-9691 or by email at prospectus@stephens.com, and by
contacting Piper Sandler & Co. by telephone at (800) 747-3924
or by email at prospectus@psc.com.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy the securities, nor shall there be any sale of the securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The securities being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the prospectus supplement or the shelf
registration statement or prospectus relating thereto.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. is a bank holding company headquartered in
Coral Gables, Florida since 1979. The Company operates through its
main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its
other subsidiaries: Amerant Investments, Inc., Elant Bank and Trust
Ltd., and Amerant Mortgage, LLC. The Company provides individuals
and businesses in the U.S. with deposit, credit and wealth
management services. The Bank, which has operated for over 40
years, is the largest community bank headquartered in Florida. The
Bank operates 25 banking centers – 18 in South Florida, 1 in Tampa,
FL and 6 in the Houston, Texas area. For more information, visit
investor.amerantbank.com.
Cautionary Notice Regarding Forward-Looking
Statements
This press release contains “forward-looking statements”
including statements with respect to the Company’s objectives,
expectations and intentions and other statements that are not
historical facts. All statements other than statements of
historical fact are statements that could be forward-looking
statements. Forward-looking statements include statements relating
to the securities offering, which is opportunistic and subject to
market conditions, and the use of proceeds from the offering,
including any potential balance sheet optimization strategies and
resolution of non-performing loans. You can identify these
forward-looking statements through the use of words such as “may,”
“balance sheet optimization efforts,” “will,” “anticipate,”
“assume,” “should,” “indicate,” “would,” “believe,” “contemplate,”
“expect,” “estimate,” “continue,” “point to,” “project,” “could,”
“intend,” “anticipate,” and other similar words and expressions of
the future.
Forward-looking statements involve risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the Company’s actual results, performance, achievements, or
financial condition to be materially different from future results,
performance, achievements, or financial condition expressed or
implied by such forward-looking statements. You should not rely on
any forward-looking statements as predictions of future events. You
should not expect us to update any forward-looking statements,
except as required by law. All forward-looking statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, together with those risks and uncertainties
described in “Risk Factors” in the Company’s annual report on Form
10-K for the fiscal year ended December 31, 2023 filed on March 7,
2024, the Company’s quarterly reports on Form 10-Q (including our
quarterly report on Form 10-Q filed on August 2, 2024), in the
Company’s other filings with the SEC, in the prospectus supplement
and accompanying base prospectus relating to the offering, which
are available at the SEC’s website www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20240926602404/en/
Investors Laura Rossi InvestorRelations@amerantbank.com (305)
460-8728 Media Alexis Dominguez MediaRelations@amerantbank.com
(305) 441-8412
Amerant Bancorp (NYSE:AMTB)
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