Amerant Bancorp Inc. Announces Extension of Exchange Offer for Its 4.250% Fixed-to-Floating Rate Subordinated Notes Due 2032
17 June 2022 - 10:50PM
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:InvestorsLaura
RossiInvestorRelations@amerantbank.com(305) 460-8728
MediaSilvia M. LarrieuMediaRelations@amerantbank.com(305)
441-8414
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