Merchants Bancorp Announces Launch Of Common Stock Offering Of 2.4M Shares Of Common Stock

Merchants Bancorp (NASDAQ:MBIN) ("Merchants" or the "Company"), a holding company that operates through its wholly owned banking subsidiary, Merchants Bank of Indiana (the "Bank"), announced today that it has launched an underwritten public offering of 2,400,000 shares of its common stock, without par value. The Company intends to grant the underwriters a 30-day right to purchase additional shares of its common stock.

Morgan Stanley is serving as the lead bookrunning manager, and Piper Sandler and Raymond James are serving as joint bookrunning managers for the offering.

The Company intends to use the net proceeds of this offering of common stock for general corporate purposes including to support balance sheet growth of the Bank.