CARMEL,
Ind., May 13, 2024 /PRNewswire/ -- Merchants
Bancorp (Nasdaq: MBIN) ("Merchants" or the "Company"), a holding
company that operates through its wholly owned banking subsidiary,
Merchants Bank of Indiana (the
"Bank"), announced today that it has launched an underwritten
public offering of 2,400,000 shares of its common stock, without
par value. The Company intends to grant the underwriters a 30-day
right to purchase additional shares of its common stock.
Morgan Stanley is serving as the lead bookrunning manager,
and Piper Sandler and Raymond James are serving as joint bookrunning
managers for the offering.
The Company intends to use the net proceeds of this offering of
common stock for general corporate purposes including to support
balance sheet growth of the Bank.
Additional Information Regarding the Offering
The offering of common stock is being made pursuant to a
registration statement on Form S-3 (File No. 333-266672) that was
declared effective by the Securities and Exchange Commission (the
"SEC") on August 17, 2022. A
preliminary prospectus supplement to which this communication
relates has been filed with the SEC. Prospective investors should
read the preliminary prospectus supplement and the accompanying
prospectus and other documents the Company has filed with the SEC
for more complete information about the Company and the offering.
Copies of these documents are available at no charge by visiting
the SEC's website at www.sec.gov. Alternatively, when available,
copies of the preliminary prospectus supplement, the prospectus
supplement and accompanying prospectus related to the offering may
be obtained by contacting Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Piper Sandler & Co., Attention: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota, 55402, by telephone at
1-800-747-3924 or by email at prospectus@psc.com; or Raymond James & Associates, Inc., Attention:
Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL, 33716, or by telephone at
(800) 248-8863, or by e-mail
at prospectus@raymondjames.com.
No Offer or Solicitation
This press release does not constitute an offer to sell, a
solicitation of an offer to sell, or the solicitation of an offer
to buy any securities. There will be no sale of securities in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Merchants Bancorp
Ranked as a top performing U.S. public bank by S&P Global
Market Intelligence, Merchants is a diversified bank holding
company headquartered in Carmel,
Indiana operating multiple business segments, including
Multi-family Mortgage Banking that offers multi-family housing and
healthcare facility financing and servicing (through this segment
Merchants also serves as a syndicator of low-income housing tax
credit and debt funds); Mortgage Warehouse Financing that offers
mortgage warehouse financing, commercial loans, and deposit
services; and Banking that offers portfolio lending for
multi-family and healthcare facility loans, retail and
correspondent residential mortgage banking, agricultural lending,
Small Business Administration lending, and traditional community
banking. Merchants, with $17.8
billion in assets and $14.0
billion in deposits as of March 31,
2024, conducts its business primarily through its direct and
indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants
Asset Management, LLC, Merchants Capital Investments, LLC,
Merchants Capital Servicing, LLC, and Merchants Mortgage, a
division of Merchants Bank of Indiana.
Forward-Looking Statements
This press release contains forward-looking statements which
reflect management's current views with respect to, among other
things, future events and financial performance. These statements
are often, but not always, made through the use of words or phrases
such as "may," "might," "should," "could," "predict," "potential,"
"believe," "expect," "continue," "will," "anticipate," "seek,"
"estimate," "intend," "plan," "projection," "goal," "target,"
"outlook," "aim," "would," "annualized" and "outlook," or the
negative version of those words or other comparable words or
phrases of a future or forward-looking nature. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the offering. These forward-looking statements
are not historical facts, and are based on current expectations,
estimates and projections about the industry, management's beliefs
and certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control.
Accordingly, management cautions that any such forward-looking
statements are not guarantees of future performance and are subject
to risks, assumptions, estimates and uncertainties that are
difficult to predict. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. A number of important factors could
cause actual results to differ materially from those indicated in
these forward-looking statements, including the impacts of factors
identified in "Risk Factors" or "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in the
Company's Annual Report on Form 10-K and other periodic filings
with the Securities and Exchange Commission. Any forward-looking
statements presented herein are made only as of the date of this
press release, and the Company does not undertake any obligation to
update or revise any forward-looking statements to reflect changes
in assumptions, the occurrence of unanticipated events, or
otherwise.
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SOURCE Merchants Bancorp
