Current Report Filing (8-k)
March 17 2021 - 5:25PM
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United
States
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): March 16, 2021
Merchants Bancorp
(Exact Name of Registrant as Specified
in its Charter)
Indiana
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001-38258
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20-5747400
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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410 Monon Boulevard
Carmel, Indiana 46032
(Address of Principal Executive Offices) (Zip Code)
(317) 569-7420
(Registrant’s Telephone Number, Including
Area Code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section
12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which
registered
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Common Stock, without par value
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MBIN
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NASDAQ
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Series A Preferred Stock, without par value
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MBINP
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NASDAQ
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Depositary
Shares, each representing a 1/40th interest in a share of Series B Preferred Stock, without par value
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MBINO
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NASDAQ
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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x
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If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01 Entry into a Material Definitive Agreement
On March 16, 2021, Merchants Bancorp (“Merchants”)
and Merchants Bank of Indiana entered into an Underwriting Agreement (the “Underwriting Agreement”) with Morgan Stanley
& Co. LLC and UBS Securities LLC (the “Underwriters”), pursuant to which Merchants agreed to sell, and the Underwriters
agreed to purchase, subject to and upon the terms and conditions set forth therein, an aggregate of 6,000,000 depositary shares
(the “Depositary Shares”) each representing a 1/40th ownership interest in a share of Merchants’ 6.00% Fixed
Rate Series C Non-Cumulative Perpetual Preferred Stock with a liquidation value of $25 per depositary share. The Underwriting Agreement
contains various representations, warranties and agreements by Merchants, conditions to closing, indemnification rights and obligations
of the parties and termination provisions. The description of the Underwriting Agreement set forth above is qualified in its entirety
by reference to the Underwriting Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated
herein by reference. The offering was made pursuant to an effective shelf registration statement and is expected to close March
23, 2021, subject to customary closing conditions.
Item 8.01 Other Events
On March 17, 2021, Merchants issued a press release announcing
the pricing of the underwritten public offering of Depositary Shares. This press release has been attached as Exhibit 99.1 to this
Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MERCHANTS BANCORP
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Date: March 17, 2021
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By:
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/s/ John F. Macke
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Name: John F. Macke
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Title: Chief Financial Officer
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