---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-103325"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2022-09-27T23:59:59+00:00"
generated_at: "2026-06-23T07:14:40.977235+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp closes $130M preferred stock offering; net proceeds ~$125.3M

## Summary
- Issued 5.2M depositary shares (1/40th interest) of 8.25% Fixed Rate Reset Series D Preferred Stock at $25/share.
- Net proceeds of approximately $125.3M after underwriting discounts and estimated expenses.
- Underwriters granted 30-day option to purchase up to 780k additional depositary shares for over-allotments.
- Joint book-runners: Piper Sandler & Co., Morgan Stanley & Co. LLC, UBS Securities LLC.
- Articles of amendment filed to authorize 149,500 shares of Series D Preferred Stock.

## SEC filing metadata
- accession: 0001104659-22-103325
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2022-09-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465922103325/0001104659-22-103325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465922103325/tm2226710d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-103325
- JSON: https://secwatch.observer/filing/0001104659-22-103325.json
- Plain text: https://secwatch.observer/filing/0001104659-22-103325.txt

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