Company: MBINL
Filing Date: 2025-05-23
Form Type: S-3
Source: 0001104659-25-052423
Chunk: 2

Company: Merchants Bancorp
Filing Date: 2025-05-23
Form: S-3
Chunk 2
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### MERCHANTS BANCORP

#### Debt Securities

#### Common Stock

#### Preferred Stock

#### Depositary Shares

#### Purchase Contracts

#### Warrants

#### Units
**We may offer and sell from time to time, in one or more series, our debt securities, which may consist of notes, debentures, or other evidences of indebtedness, shares of our common stock or preferred stock, depositary shares, purchase contracts, warrants, and units comprised of two or more of these securities in any combination. The debt securities and preferred stock may be convertible into or exchangeable for other securities of ours. This prospectus provides you with a general description of these securities. Each time we offer any securities pursuant to this prospectus, we will provide you with a prospectus supplement, and, if necessary, a pricing supplement, that will describe the specific amounts, prices and terms of the securities being offered. These supplements may also add, update or change information contained in this prospectus. To understand the terms of the securities offered, before deciding to invest you should carefully read this prospectus with the applicable supplements, which together provide the specific terms of the securities we are offering.

The aggregate of the offering prices of the securities covered by this prospectus will not exceed $500,000,000.

Our common stock, without par value, is listed on the Nasdaq Capital Market under the symbol “MBIN.” Our depositary shares each representing a 1/40 th ownership interest in a share of our 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock, without par value, liquidation preference of $1,000 per share (the “Series C Preferred”), our depositary shares each representing a 1/40 th ownership interest in a share of our 8.25% Fixed Rate Reset Series D Non-Cumulative Perpetual Preferred Stock, without par value, liquidation preference of $1,000 per share (the “Series D Preferred”), and our depositary shares each representing 1/40 th ownership interest in a share of our 7.625% Fixed Rate Reset Series E Non-Cumulative Perpetual Preferred Stock, without par value, liquidation preference of $1,000 per share (the “Series E Preferred”) are listed on the Nasdaq Capital Market under the symbols “MBINN”, “MBINM,” and “MBINL,” respectively. We expect that any common stock, preferred stock, or depositary shares sold pursuant