Merchants Bancorp Closes Depositary Share Offering
Merchants Bancorp (Nasdaq: MBIN) has successfully closed its public offering of 6,000,000 depositary shares, each representing a 1/40th interest in its 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock. The offering raised approximately $144.9 million, net of expenses and underwriting fees. Morgan Stanley & Co. LLC and UBS Securities LLC were the joint book runners, with Piper Sandler and others as co-managers. Merchants Bancorp, headquartered in Carmel, Indiana, operates in multiple banking sectors, boasting $9.6 billion in assets and $7.4 billion in deposits as of December 31, 2020.
- Raised approximately $144.9 million from the public offering.
- Increased capital from the issuance of preferred stock.
- Strong asset base of $9.6 billion as of December 31, 2020.
- None.
CARMEL, Ind., March 23, 2021 /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 6,000,000 depositary shares, each representing a 1/40th interest in a share of its
Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book runners. Piper Sandler & Co., Wedbush Securities, Inc., and Boenning & Scattergood, Inc. acted as co-managers.
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 January 9, 2020. 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, Attn: Prospectus Department, Telephone number: 1-866-718-1649 or UBS Securities LLC, 1285 Avenue of the Americas, New York, NY 10019, Attn: Prospectus Specialist, Telephone number: 1-888-827-7275.
About Merchants Bancorp
Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including multi–family housing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending, Small Business Administration lending, and traditional community banking. Merchants Bancorp, with
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SOURCE Merchants Bancorp
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