secwatch.observer — SEC 8-K summary
======================================

Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001104659-24-122594
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924122594/0001104659-24-122594-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924122594/tm2429247d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-122594

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer