Amerant Bancorp Inc. Announces Closing of $60.0 Million Senior Notes Offering
Amerant Bancorp Inc. has completed a registered offering of senior notes due 2025, raising $60 million, exceeding initial expectations due to high demand. The notes carry a 5.75% interest rate, payable semi-annually, and are backed by the Company's subsidiary, Amerant Florida Bancorp. Proceeds will support general corporate purposes, including working capital and potential acquisitions. The offering was managed by Raymond James & Associates, with regulatory filings made with the SEC.
- Successfully raised $60 million through senior notes offering.
- Interest rate of 5.75% provides a competitive return.
- Proceeds will be used for organic growth and acquisitions.
- None.
CORAL GABLES, Fla., June 23, 2020 (GLOBE NEWSWIRE) -- AMERANT BANCORP INC. (NASDAQ: AMTB and AMTBB) (the “Company”) today announced the closing of its previously announced registered offering of senior notes due 2025 (the "Notes"). Due to the incremental demand for the Notes, the Company increased the size of its offering to an aggregate principal amount of
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, providing capital to support the organic growth of Amerant Bank, N.A., the Company’s wholly-owned bank subsidiary, funding the opportunistic acquisition of similar or complementary financial service organizations and repaying outstanding indebtedness.
Raymond James & Associates, Inc. served as the sole book-running manager for the offering. Akerman LLP served as legal counsel to the Company and Davis Polk & Wardwell LLP served as legal counsel to Raymond James & Associates, Inc.
The Notes were offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-238958) declared effective by the Securities and Exchange Commission (the “SEC”) on June 15, 2020. A final prospectus supplement and an accompanying prospectus relating to the offering of
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including, without limitation, statements regarding the Company's intended use of proceeds from the offering and other statements that are not historical facts. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlooks,” “modeled,” and other similar words and expressions of the future.
Forward-looking statements, including those as to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown 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. All written or oral 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 our annual report on Form 10-K for the fiscal year ended December 31, 2019, our quarterly report on Form 10-Q for the quarter ended March 31, 2020 and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida. The Company operates through its subsidiaries, Amerant Bank, N.A. (the “Bank”), Amerant Investments, Inc., Amerant Trust, N.A. and Elant Bank and Trust Ltd. The Company provides individuals and businesses in the U.S., as well as select international clients, 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 27 banking centers—19 in South Florida and 8 in the Houston, Texas area—and loan production offices in Dallas, Texas and New York, New York. For more information, please visit www.amerantbank.com or our investor relations page at https://investor.amerantbank.com.
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FAQ
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