Metropolitan in New York to raise $200M via public offering
Metropolitan Bank Holding in New York plans to raise about $205 million by selling common stock.
The company said in a press release that it will sell 2.1 million shares in a public offering at $85 each. Metropolitan could sell another 15% of its stock if there is enough demand.
The company plans to use the proceeds to support its organic growth, investments in the bank and working capital, among other things.
UBS Investment Bank and Hovde Group are the joint book-running managers.