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Stock impact report

Merchants Bancorp Prices Depositary Share Offering [Yahoo! Finance]

Merchants Bancorp (MBIN) 
Last merchants bancorp earnings: 1/30 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
subsidiary, Merchants Bank of Indiana ("Merchants Bank"), announced the pricing of an underwritten public offering of 9,200,000 depositary shares, each representing a 1/40th ownership interest in a share of its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock (the "Series E preferred stock"), with a liquidation preference of per depositary share. When, as, and if declared by the board of directors of Merchants, dividends will be payable on the Series E preferred stock from the date of issuance at a rate of 7.625% per annum, payable quarterly in arrears, on January 1 April 1 July 1 October 1 of each year, beginning January 1 , 2025. Merchants may redeem the Series E preferred stock at its option at a redemption price equal to per depositary share, as described in the prospectus supplement and accompanying prospectus relating to the offering. Net proceeds from the offering are expected to be used to redeem Merchants' Series B preferred stock and for general corpor Show less Read more
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