Merchants Bancorp Prices Depositary Share Offering
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Merchants Bancorp has announced the pricing of an underwritten public offering of 9.2 million depositary shares, each representing a 1/40th interest in its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $25.00 per share.
November 18, 2024 | 9:15 pm
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Merchants Bancorp has priced an offering of 9.2 million depositary shares, linked to its Series E Preferred Stock, potentially impacting its stock price.
The offering of depositary shares can lead to increased capital for Merchants Bancorp, which may be viewed positively by investors, potentially driving the stock price up in the short term.
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