Amerant Bancorp (NYSE: AMTB) announced the closing of its public offering of 8.68 million shares of its Class A common stock at $19 per share, raising approximately $165 million in gross proceeds.
The offering included 784,210 shares issued after underwriters exercised their option to buy additional shares.
Headquartered in Coral Gables, the company plans to use the net proceeds of approximately $156.7 million to support corporate growth.
“This capital raise completes a multi-year transformation for Amerant,” said Jerry Plush, chairman and chief executive officer. “It strengthens our ability to pursue organic growth and highlights investor confidence in our vision for the future.”
Stephens Inc. and Piper Sandler & Co. acted as joint book-running managers, with Raymond James & Associates, based in St. Petersburg, serving as one of the co-managers.
With one of Amerant’s 25 banking centers located in Tampa, the company has been expanding its presence in the region, as part of its broader Florida growth strategy.
The new capital will help Amerant enhance its services in the Tampa Bay area, and across its footprint, which includes South Florida and Houston, Texas.
The offering was made through a prospectus supplement filed with the U.S. Securities and Exchange Commission.