Costa Mesa, Calif.-based Pacific Mercantile Bancorp filed a shelf registration statement for the sale of up to 3,636,363 shares of its common stock and up to 1,467,155 shares of its nonvoting common stock that may be offered from time to time by certain selling shareholders
The filing covers 2,169,208 shares of Pacific Mercantile Bancorp common stock purchased by Patriot Financial Partners III LP from Carpenter Community Bancfund LP and Carpenter Community Bancfund-A LP. It also covers the 1,467,155 shares of the company's nonvoting common stock issued to Patriot upon conversion of series A nonvoting preferred shares purchased by Patriot from the Carpenter funds, and the 1,467,155 shares of Pacific Mercantile Bancorp common stock potentially issuable upon conversion of the nonvoting common shares held by Patriot.
The proposed maximum offering price per share, estimated solely for the purpose of calculating the registration fee, is $7.38 for the common stock and $7.38 for the nonvoting common stock.
The selling shareholders will receive all proceeds from the sale of the securities.