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 6.00% Fixed Rate Series C Non-Cumulative
Perpetual Preferred Stock, with a liquidation preference of
$25.00 per depositary share. As a
result, Merchants received proceeds of approximately $144.9 million, net of estimated expenses and
underwriting discounts and commissions.
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 $9.6 billion
in assets and $7.4 billion in
deposits as of December 31, 2020,
conducts its business through its direct and indirect subsidiaries,
Merchants Bank of Indiana,
Merchants Capital Corp., Farmers-Merchants Bank of Illinois, Merchants Capital Servicing, LLC,
One Trust Funding, Inc. 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