CORAL GABLES, Fla., Dec. 21, 2018 (GLOBE NEWSWIRE) -- Mercantil Bank Holding Corporation (NASDAQ: AMTB and AMTBB) announced today the closing of its initial public offering of 6,300,000 shares of its Class A common stock at a public offering price of $13.00 per share. Of the 6,300,000 Class A shares sold in the offering, the Company sold 1,377,523 Class A shares and a selling shareholder sold 4,922,477 Class A shares.

In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 945,000 Class A shares at the public offering price, less the underwriting discount, to cover over-allotments.

The Company’s Class A shares and shares of its Class B common stock are listed on the Nasdaq Global Select Market under the trading symbols “AMTB” and “AMTBB,” respectively.

The Company will use the net proceeds of the primary offering to repurchase, as soon as possible after the initial public offering, approximately 1.42 million Class B shares held by the selling shareholder (or approximately 2.39 million Class B shares held by the selling shareholder if the underwriters exercise in full their option to purchase additional Class A shares). The Company will not receive proceeds from the selling shareholder’s sale of its Class A shares.

Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, Inc. are acting as joint book-running managers, Stephens Inc. is acting as lead manager, and SunTrust Robinson Humphrey, Inc. and FIG Partners, LLC are acting as co-managers for the offering.