Metropolitan Bank Holding Corp. Prices 2.1M Shares at $85, Raising $178.5M
Metropolitan Bank Holding Corp. priced an underwritten public offering of 2,100,000 common shares at $85.00 each, granting underwriters a 30-day option to purchase up to 15% additional shares. The base offering will generate $178.5 million in gross proceeds, potentially rising to $205.3 million if the option is fully exercised.
1. Public Offering Terms
Metropolitan Bank Holding Corp. launched an underwritten public offering of 2,100,000 common shares at $85.00 per share, with underwriters granted a 30-day option to purchase up to an additional 15% of shares. The offering’s aggregate gross proceeds amount to $178.5 million before discounts and expenses, rising to $205.3 million if the option is fully exercised.
2. Use of Proceeds and Expected Closing
Net proceeds are earmarked to support organic growth initiatives, investments in Metropolitan Commercial Bank, working capital needs and general corporate purposes. The offering is expected to close on February 27, 2026, subject to customary conditions, with UBS Investment Bank and Hovde Group, LLC serving as joint book-running managers.