Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Amerant Bancorp Inc. Announces Extension of Exchange Offer for Its 4.250% Fixed-to-Floating Rate Subordinated Notes Due 2032

AMTB, AMTBB

CORAL GABLES, Fla., June 17, 2022 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (the “Company”) today announced that it is extending to 5:00 p.m. New York City Time on June 21, 2022, its offer to exchange up to $30,000,000 aggregate principal amount of outstanding unregistered 4.25% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Old Notes”) for an equal principal amount of its 4.25% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “New Notes”) that have been registered under the Securities Act of 1933 (the “Act”) in order to allow additional holders to tender in the exchange offer. Except for the extension of the expiration date, all of the terms of the exchange offer remain as set forth in the Company’s prospectus, dated May 16, 2022.

The Old Notes were issued on March 9, 2022 in a transaction exempt from registration under the Act. The terms of the New Notes are substantially identical to the terms of the Old Notes, except that the New Notes have been registered under the Act, are not subject to restrictions on transfer, and do not entitle their holders to registration rights or special interest. As of 5:00 p.m. New York City time, on June 16, 2022, the original expiration date of the exchange offer, $15,250,000 in principal amount of the outstanding Old Notes, representing 51% of the outstanding principal amount of the Old Notes, had been validly tendered in exchange for an equal aggregate principal amount of the New Notes.

This news release is for informational purposes only and is not an offer to purchase any Old Notes or sell any New Notes, or a solicitation of an offer to sell any Old Notes or purchase any New Notes. The exchange offer was made only pursuant to a prospectus filed with the Securities and Exchange Commission (the “SEC”) as part of the Company’s Registration Statement on Form S-4 (File No. 333-264679). The Registration Statement was declared effective by the SEC on May 16, 2022.

About Amerant Bancorp Inc. (NASDAQ: AMTB)

Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., Elant Bank and Trust Ltd., and Amerant Mortgage, LLC. The Company provides individuals and businesses 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 24 banking centers – 17 in South Florida and 7 in Houston, Texas. For more information, visit investor.amerantbank.com.

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 statements regarding the exchange offer, as well as 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. 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,” “dedicated,” “create,” and other similar words and expressions of the future.

Forward-looking statements, including those relating to the use of proceeds of this offering, as well as other statements as to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, 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 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, 2021, our subsequent quarterly reports on Form 10-Q, 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.

CONTACTS:
Investors
Laura Rossi
InvestorRelations@amerantbank.com
(305) 460-8728

Media
Silvia M. Larrieu
MediaRelations@amerantbank.com
(305) 441-8414


Primary Logo