Amerant Closes Private Placement of Class A Shares
Amerant Bancorp Inc. - Class B (AMTBB)
Company Research
Source: GlobeNewswire
CORAL GABLES, Fla., Feb. 28, 2019 (GLOBE NEWSWIRE) -- Mercantil Bank Holding Corporation (NASDAQ: AMTB and AMTBB) (the “Company”) announced today the closing of a private placement of 1,750,000 shares of its Class A common stock (“Class A shares”) for a total of $24,662,500. The Company’s Class A Shares and its Class B common stock (“Class B Shares”) are listed on the Nasdaq Global Select Market under the trading symbols “AMTB” and “AMTBB,” respectively. The Company will use $28,422,528 of proceeds from this placement and earlier sales of Class A Shares to repurchase all 2,112,321 nonvoting Class B Shares held by Mercantil Servicios Financieros, C.A. (“MSF”), the Company’s former parent. After this repurchase, MSF will own no Company capital stock. MSF will pay the placement agent’s fees with respect to Class A Shares sold to repurchase Class B Shares and certain of the Company’s other transaction expenses. After the Class B Share repurchase, the Company will use the remaining
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