---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-122594"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2024-11-25T23:59:59+00:00"
generated_at: "2026-05-29T18:54:28.936130+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp closes $222.8M depositary share offering of Series E preferred stock

## Summary
- Issued 9,200,000 depositary shares (each 1/40th share of 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock).
- Net proceeds of approximately $222.8 million after expenses and underwriting discounts and commissions.
- Joint bookrunning managers: Morgan Stanley, UBS, Piper Sandler, Raymond James.
- Liquidation preference: $25 per depositary share ($1,000 per preferred share).
- Closing date: November 25, 2024; shares trade on Nasdaq under symbol MBINL.

## SEC filing metadata
- accession: 0001104659-24-122594
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2024-11-25T23:59:59+00:00
- event_type: other_material
- 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/1629019/000110465924122594/0001104659-24-122594-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465924122594/tm2429247d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-122594
- JSON: https://secwatch.observer/filing/0001104659-24-122594.json
- Plain text: https://secwatch.observer/filing/0001104659-24-122594.txt

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