NEW YORK--(BUSINESS WIRE)--
Metropolitan Bank Holding Corp. (NYSE:MCB) (“Metropolitan”) today
announced that it has completed its initial public offering of 3,565,000shares of its common stock, par value $0.01 per share, at a public
offering price of $35.00 per share, which included the exercise of the
underwriters’ option to purchase an additional 465,000 shares of
Metropolitan common stock. The offering resulted in gross proceeds to
Metropolitan of approximately $124.8 million. The net proceeds to
Metropolitan, after deducting the underwriting discount and estimated
offering expenses, are approximately $115.0 million.
Metropolitan’s common stock now trades on the New York Stock Exchange
under the symbol “MCB.”
J.P. Morgan and Keefe, Bruyette & Woods, Inc., acted as joint book
running managers of the offering and as representatives of the
underwriters. The Company was represented by Luse Gorman, PC. The
underwriters were represented by Davis Polk & Wardwell LLP.
About Metropolitan Bank Holding Corp.
Metropolitan Bank Holding Corp. is the holding company for Metropolitan
Commercial Bank®, The Entrepreneurial Bank. Headquartered in
New York City, the Bank operates full-service banking centers in
Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan
Commercial Bank is a New York State chartered commercial bank, a FDIC
member and an equal opportunity lender.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements,” including with
respect to the initial public offering. Forward-looking statements are
subject to many risks and uncertainties, including, but not limited to:
changes in business plans as circumstances warrant; changes in general
economic, business and political conditions, including changes in the
financial markets; and other risks detailed in the “Cautionary Note
Regarding Forward-Looking Statements,” “Risk Factors” and other sections
of the registration statement filed with the SEC. Potential investors
should note that the forward-looking statements included in this press
release are not a guarantee of future events, and that actual events may
differ materially from those made in or suggested by the forward-looking
statements. Forward-looking statements generally can be identified by
the use of forward-looking terminology such as “may,” “might,” “should,”
“could,” “predict,” “potential,” “believe,” “expect,” “attribute,”
“continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,”
“projection,” “goal,” “target,” “outlook,” “aim,” “would,” “annualized”
and “outlook,” or similar terminology. Any forward-looking statements
presented herein are made only as of the date of this press release, and
Metropolitan Bank Holding Corp. does not undertake any obligation to
update or revise any forward-looking statements to reflect changes in
assumptions, the occurrence of unanticipated events, or otherwise,
except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171110005687/en/
Metropolitan Bank Holding Corp.
Ed Nebb, 203-972-8350
IR@MetropolitanBankNY.com
Source: Metropolitan Bank Holding Corp.