Amerant Bancorp Inc. Announces Pricing of Class A Voting Common Stock Offering
Amerant Bancorp Inc. (NYSE: AMTB) has announced the pricing of its public offering of 7,900,000 shares of Class A voting common stock at $19.00 per share, totaling an aggregate offering amount of $150 million. The company has also granted underwriters a 30-day option to purchase up to an additional 784,210 shares. Stephens Inc. and Piper Sandler & Co. are acting as joint book-running managers, with Keefe, Bruyette & Woods, A Stifel Company, and Raymond James & Associates, Inc. as co-managers.
The offering is expected to close on or about September 27, 2024, subject to customary conditions. Amerant intends to use the net proceeds for general corporate purposes, supporting organic growth, working capital, investments in Amerant Bank, N.A., resolving non-performing loans, and potential balance sheet optimization strategies.
Amerant Bancorp Inc. (NYSE: AMTB) ha annunciato il prezzo della sua offerta pubblica di 7.900.000 azioni di azioni ordinarie di Classe A con diritto di voto a $19,00 per azione, per un importo totale dell'offerta di $150 milioni. L'azienda ha anche concesso ai sottoscrittori un'opzione di acquisto di 784.210 azioni aggiuntive per un periodo di 30 giorni. Stephens Inc. e Piper Sandler & Co. agiscono come manager principali dell'offerta, con Keefe, Bruyette & Woods, A Stifel Company, e Raymond James & Associates, Inc. come co-manager.
Si prevede che l'offerta si chiuda intorno al 27 settembre 2024, soggetta a condizioni usuali. Amerant intende utilizzare il ricavato netto per finalità aziendali generali, supportando la crescita organica, il capitale circolante, investimenti in Amerant Bank, N.A., risolvendo prestiti non performanti e potenziali strategie di ottimizzazione del bilancio.
Amerant Bancorp Inc. (NYSE: AMTB) ha anunciado el precio de su oferta pública de 7,900,000 acciones de acciones ordinarias de Clase A con derecho a voto a $19.00 por acción, totalizando un monto de oferta agregado de $150 millones. La compañía también ha otorgado a los suscriptores una opción de compra de hasta 784,210 acciones adicionales por un período de 30 días. Stephens Inc. y Piper Sandler & Co. están actuando como gerentes conjuntos de libros, con Keefe, Bruyette & Woods, A Stifel Company, y Raymond James & Associates, Inc. como co-gerentes.
Se espera que la oferta se cierre alrededor del 27 de septiembre de 2024, sujeto a condiciones habituales. Amerant pretende utilizar los ingresos netos para fines corporativos generales, apoyando el crecimiento orgánico, el capital de trabajo, inversiones en Amerant Bank, N.A., resolviendo préstamos no productivos y estrategias potenciales de optimización del balance.
Amerant Bancorp Inc. (NYSE: AMTB)는 7,900,000주의 A급 의결권 보통주를 주당 $19.00의 가격으로 공모한다고 발표했습니다. 총 공모액은 $150백만입니다. 회사는 또한 언더라이터들에게 추가로 784,210주를 구매할 수 있는 30일 옵션을 부여했습니다. Stephens Inc.와 Piper Sandler & Co.는 공동 주관사로 활동하고 있으며, Keefe, Bruyette & Woods, A Stifel Company와 Raymond James & Associates, Inc.는 공동 관리자 역할을 하고 있습니다.
이번 공모는 2024년 9월 27일경에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다. Amerant는 순수익금을 일반 기업 목적, 유기적 성장 지원, 운영 자본, Amerant Bank, N.A.에 대한 투자, 부실 대출 해결 및 잠재적인 대차대조표 최적화 전략에 활용할 계획입니다.
Amerant Bancorp Inc. (NYSE: AMTB) a annoncé le prix de son offre publique de 7 900 000 actions d'actions ordinaires de Classe A avec droit de vote à 19,00 $ par action, totalisant un montant d'offre global de 150 millions $. La société a également accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 784 210 actions supplémentaires. Stephens Inc. et Piper Sandler & Co. agissent en tant que gestionnaires principaux, avec Keefe, Bruyette & Woods, A Stifel Company, et Raymond James & Associates, Inc. comme co-managers.
On s'attend à ce que l'offre se clôture aux alentours du 27 septembre 2024, sous réserve des conditions habituelles. Amerant prévoit d'utiliser le produit net pour des objectifs corporatifs généraux, soutenant la croissance organique, le fonds de roulement, les investissements dans Amerant Bank, N.A., la résolution des prêts non performants et les stratégies potentielles d'optimisation du bilan.
Amerant Bancorp Inc. (NYSE: AMTB) hat den Preis für sein öffentliches Angebot von 7.900.000 Aktien der Klasse A mit Stimmrecht auf 19,00 $ pro Aktie bekannt gegeben, was insgesamt 150 Millionen $ ergibt. Das Unternehmen hat den Underwritern außerdem eine 30-tägige Option eingeräumt, bis zu 784.210 Aktien zusätzlich zu erwerben. Stephens Inc. und Piper Sandler & Co. fungieren als gemeinsame Bookrunner, während Keefe, Bruyette & Woods, A Stifel Company, und Raymond James & Associates, Inc. als Co-Manager auftreten.
Der Abschluss des Angebots wird für den 27. September 2024 erwartet, vorbehaltlich üblicher Bedingungen. Amerant beabsichtigt, den Nettoerlös für allgemeine Unternehmenszwecke zu verwenden, um organisches Wachstum, Betriebskapital, Investitionen in Amerant Bank, N.A., die Behebung von notleidenden Krediten und potenzielle Strategien zur Bilanzoptimierung zu unterstützen.
- Raised $150 million through public offering of 7,900,000 shares
- Potential for additional capital with 30-day option for 784,210 more shares
- Proceeds to support organic growth and balance sheet optimization
- Potential dilution of existing shareholders' equity
- Increased shares outstanding may impact earnings per share
Insights
Amerant Bancorp's $150 million common stock offering is a significant capital raise that will bolster the company's financial position. Pricing at
The stated use of proceeds for "general corporate purposes" and "organic growth" is broad but aligns with typical banking strategies. Notably, the mention of "resolution of non-performing loans" and "balance sheet optimization" hints at potential efforts to improve asset quality and financial efficiency. This could positively impact the bank's risk profile and profitability in the long term.
The involvement of reputable underwriters like Stephens Inc. and Piper Sandler & Co. lends credibility to the offering. However, investors should note that the additional shares will likely result in
The timing of Amerant Bancorp's stock offering is intriguing, coming amidst a challenging environment for regional banks. With a market cap of
The pricing at
Investors should watch for how quickly and effectively Amerant deploys this capital. The mention of "resolution of non-performing loans" suggests there may be asset quality concerns to address. Conversely, if used for organic growth initiatives, this could accelerate Amerant's expansion in its key markets. The stock's performance post-offering will likely depend on management's execution and transparency regarding the use of proceeds.
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
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
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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Investors
Laura Rossi
InvestorRelations@amerantbank.com
(305) 460-8728
Media
Alexis Dominguez
MediaRelations@amerantbank.com
(305) 441-8412
Source: Amerant Bancorp Inc.
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