---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-120881"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2024-11-20T23:59:59+00:00"
generated_at: "2026-05-29T21:50:46.300898+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp prices $230M 7.625% Series E preferred stock offering to redeem Series B preferred

## Summary
- Offering of 9.2M depositary shares at $25 each, representing Series E 7.625% non-cumulative perpetual preferred stock.
- Dividends at 7.625% payable quarterly starting Jan 1, 2025; redeemable at $25 per share at Merchants' option.
- Net proceeds to redeem existing Series B preferred stock and for general corporate purposes.
- Expected close Nov 25, 2024; joint bookrunners: Morgan Stanley, UBS, Piper Sandler, Raymond James.

## SEC filing metadata
- accession: 0001104659-24-120881
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2024-11-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465924120881/0001104659-24-120881-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465924120881/tm2425445d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-120881
- JSON: https://secwatch.observer/filing/0001104659-24-120881.json
- Plain text: https://secwatch.observer/filing/0001104659-24-120881.txt

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