Merchants Bancorp prices 2.4 million share offering at $43.00, expects $97.6 million net
Merchants Bancorp sold 2,400,000 shares of common stock at $43.00 per share in an underwritten public offering under an agreement dated May 13, 2024, and the offering closed on May 16, 2024. The company expects net proceeds of about $97.6 million, which it plans to use for general corporate purposes, including supporting balance sheet growth at Merchants Bank of Indiana. Shareholders would see a larger share count after the offering, and the underwriters also hold a 30-day option to buy up to 360,000 more shares.
Key points
- 2,400,000 shares sold at a public offering price of $43.00 per share
- Underwriters have a 30-day right to buy up to an additional 360,000 shares
- Expected net proceeds of about $97.6 million; offering closed May 16, 2024
- Proceeds intended for general corporate purposes, including balance sheet growth at Merchants Bank of Indiana
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 16, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.