secwatch.observer — SEC 8-K summary
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Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0001104659-24-123081
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Merchants Bancorp to redeem Series B Preferred Stock on Jan 2, 2025 at $25/share; declares initial Series E dividend
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- All outstanding Series B Preferred (MBINO) to be redeemed on Jan 2, 2025 at $25.00 per share; uses cash on hand.
- Series B preferred had rate reset to 9.42% as of Oct 1, 2024; delisting from Nasdaq expected Jan 2, 2025.
- Board declared initial quarterly dividend on Series E Preferred (MBINL) of $7.84/share ($0.196/depositary share).
- Dividend payable Jan 2, 2025 to holders of record Dec 13, 2024.
- Redemption price excludes previously declared $0.59/share dividend paid separately on Jan 2, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924123081/0001104659-24-123081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465924123081/tm2429247d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-123081

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