CARMEL,
Ind., Nov. 25, 2024 /PRNewswire/ -- Merchants
Bancorp ("Merchants") (Nasdaq: MBIN), parent company of Merchants
Bank of Indiana, today announced
the closing of its previously announced underwritten public
offering of 9,200,000 depositary shares, each representing a 1/40th
interest in a share of its 7.625% Fixed Rate Series E
Non-Cumulative Perpetual Preferred Stock (the "Series D preferred
stock"), with a liquidation preference of $25.00 per depositary share. As a result of the
public offering Merchants received proceeds of approximately
$222.8 million, net of estimated
expenses and underwriting discounts and commissions.
Morgan Stanley & Co. LLC, UBS Securities LLC, Piper Sandler & Co., and Raymond James & Associates, Inc. acted as
joint bookrunning managers for the offering.
A shelf registration statement, including a prospectus, with
respect to the offering was previously filed by Merchants with the
Securities and Exchange Commission (the "SEC") and was declared
effective by the SEC on August 17,
2022. A prospectus supplement relating to the offering has
been filed with the SEC. The offering has been made by means of a
prospectus supplement and accompanying prospectus. Copies of the
prospectus supplement and the accompanying prospectus relating to
these securities may be obtained free of charge by visiting the
SEC's website at www.sec.gov, or may be obtained from Morgan
Stanley & Co. LLC, 180 Varick Street, Second Floor,
New York, NY 10014, Attention:
Prospectus Department, or by emailing prospectus@morganstanley.com;
UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue
of the Americas, New York, NY
10019, by telephone at (888) 827-7275 or by emailing
ol-prospectus-request@ubs.com; Piper
Sandler & Co., Attention: Debt Capital Markets, 1
Greenwich Plaza, 1st Floor, Suite 111, Greenwich, CT 06830, or by emailing
fsg-dcm@psc.com; Raymond James &
Associates, Inc., Attention: Equity Syndicate, 880 Carillon
Parkway, St. Petersburg, Florida
33716, by telephone at (800) 248-8863 or by emailing
prospectus@raymondjames.com.
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 $18.7
billion in assets and $12.9
billion in deposits as of September 30, 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. For more information and financial
data, please visit Merchants' Investor Relations page at
investors.merchantsbancorp.com.
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SOURCE Merchants Bancorp
