- Merchants Bancorp ( NASDAQ: MBIN ) has priced an underwritten public offering of 5.2M depositary shares.
- Each depositary share represents a 1/40th ownership interest in a share of its 8.25% fixed rate reset series D non-cumulative perpetual preferred stock.
- The liquidation preference is $25 per depositary share.
- The underwriters are granted a 30-day option to purchase 780,000 additional depositary shares of the series D preferred stock to cover over allotments.
- The net proceeds will be used for general corporate purposes.
- Source: Press Release
For further details see:
Merchants Bancorp prices underwritten public offering of 5.2M depositary shares