secwatch.observer — SEC 8-K summary
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Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2022-09-23T23:59:59+00:00
Accession:  0001104659-22-102683
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465922102683/0001104659-22-102683-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465922102683/tm2225754d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-102683

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