Amerant Bancorp Inc. (AMTB) has announced the pricing of a public offering consisting of 7.9 million shares of its Class A voting common stock, with each share priced at $19.00, totaling $150 million. Additionally, the company has provided underwriters with a 30-day option to purchase up to an additional 784,210 shares at the public offering price, excluding underwriting discounts. The offering is anticipated to close around September 27, 2024.
The net proceeds from this offering will be employed by Amerant Bancorp for general corporate activities and to facilitate ongoing organic growth. This may encompass various initiatives, including working capital, investments in Amerant Bank, N.A., resolution of non-performing loans, and potential balance sheet optimization strategies.
