Amerant Bancorp Inc. successfully closed its public offering of 8,684,210 shares of Class A voting common stock on September 27, 2024. The shares were priced at $19.00 per share, including the full exercise of the underwriters' option to purchase an additional 784,210 shares. This transaction generated total gross proceeds of approximately $165 million, with net proceeds reaching about $156.7 million after deducting underwriting discounts.
The company intends to allocate the net proceeds for general corporate purposes, supporting its continued organic growth initiatives. These initiatives include bolstering working capital, making strategic investments in its banking subsidiary, and facilitating the resolution of non-performing loans. The capital infusion is also earmarked for potential balance sheet optimization strategies.
Chairman and CEO Jerry Plush stated that this capital raise, combined with a follow-on investment portfolio repositioning, completes the multi-year transformation undertaken by Amerant. The success of this offering strengthens the company's ability to pursue organic growth and reflects investor confidence in its vision and future.
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