Amerant bancorp inc. commences modified dutch auction tender offer to repurchase up to $50.0 million of its class b common stock

Coral gables, fla., nov. 20, 2020 (globe newswire) -- amerant bancorp inc. (nasdaq: amtb and amtbb) (the “company” or “amerant”) announced today that it has commenced a modified “dutch auction” tender offer (the “tender offer”) to purchase, for cash, up to $50.0 million of shares of its class b common stock (the “class b common stock”) at a price per share not greater than $12.55 and not less than $9.65, less any applicable withholding taxes and without interest. the company intends to purchase the shares using cash and cash equivalents. on november 19, 2020, the closing price of the class b common stock was $11.90 per share. the tender offer will expire at 11:59 p.m., new york city time, on december 18, 2020, unless extended or terminated.
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