secwatch.observer — SEC 8-K summary
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Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2024-11-20T23:59:59+00:00
Accession:  0001104659-24-120881
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924120881/0001104659-24-120881-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924120881/tm2425445d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-120881

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