Merchants Bancorp Announces Launch Of Common Stock Offering Of 2.4M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Merchants Bancorp (MBIN) has announced an underwritten public offering of 2.4 million shares of its common stock. The offering includes a 30-day option for underwriters to purchase additional shares. Morgan Stanley, Piper Sandler, and Raymond James are managing the offering. The proceeds are intended for general corporate purposes and to support the Bank's balance sheet growth.
May 13, 2024 | 8:11 pm
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Merchants Bancorp's public offering of 2.4M shares could dilute current shareholders but also provides capital for growth. Managed by top firms, indicating strong market support.
The offering could lead to short-term stock price volatility due to potential dilution of existing shares. However, the involvement of reputable underwriters and the purpose of the proceeds suggest a positive outlook for long-term growth.
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