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Stock impact report

Metropolitan Bank Holding Corp. Prices Public Offering of Common Stock

Metropolitan Bank Holding Corp. (MCB) 
NASDAQ:AMEX Investor Relations: metropolitanbankny.com/about-us.aspx
Company Research Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Metropolitan Bank Holding Corp. (NYSE: MCB) (the “Company”), the holding company for Metropolitan Commercial Bank (the “Bank”), today announced the pricing of an underwritten public offering of 2,100,000 shares of its common stock at a price of $85.00 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in connection with the offering.The aggregate gross proceeds of the offering will be approximately $178.5 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $205.3 million before discounts and expenses. The Company plans to use the net proceeds from the offering to support its organic growth initiatives, investments in the Bank, working capital for ongoing operations, and general corporate purposes. The offering is expected to Show less Read more
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