Metropolitan Bank Holding Corp. (NYSE: MCB) has successfully closed the overallotment option related to its recent public offering of common stock. The underwriters exercised their option to purchase an additional 213,395 shares at the public offering price of $85.00 per share, resulting in net proceeds of approximately $17.2 million after deducting underwriters' discounts and commissions. This transaction follows the company's earlier announcement of a public offering totaling $175 million. The offering was managed by UBS Investment Bank and Hovde Group, LLC, who acted as joint book-running managers. The funds raised are expected to bolster the bank's capital position and support its growth strategy. The offering was conducted under an effective shelf registration statement filed with the SEC, ensuring compliance with regulatory requirements. The bank's strong performance and strategic initiatives have positioned it favorably in the competitive banking landscape, and this capital raise is anticipated to enhance its operational capabilities and market presence.

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