---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-102683"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2022-09-23T23:59:59+00:00"
generated_at: "2026-06-23T07:44:12.573585+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp prices $130M perpetual preferred offering at 8.25% fixed rate

## Summary
- Offering of 5,200,000 depositary shares representing 8.25% Series D Non-Cumulative Preferred Stock at $25/share.
- Dividends at 8.25% through Oct 1, 2027; thereafter reset to 5-year Treasury rate plus 4.34%.
- Underwriters have 30-day over-allotment option for up to 780,000 additional shares.
- Net proceeds for general corporate purposes and balance sheet growth of Merchants Bank.
- Expected closing September 27, 2022, subject to customary conditions.

## SEC filing metadata
- accession: 0001104659-22-102683
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2022-09-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465922102683/0001104659-22-102683-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465922102683/tm2225754d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-102683
- JSON: https://secwatch.observer/filing/0001104659-22-102683.json
- Plain text: https://secwatch.observer/filing/0001104659-22-102683.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.