Company: MBINL
Filing Date: 2025-05-23
Form Type: S-3
Source: 0001104659-25-052423
Chunk: 28

Company: Merchants Bancorp
Filing Date: 2025-05-23
Form: S-3
Chunk 28
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 common stock.

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TABLE OF CONTENTS

#### Stock Exchange Listing.
Our common stock is listed on the Nasdaq Capital Market under the trading symbol “MBIN.”

#### Preferred Stock

#### General.
Upon authorization of our board of directors, we may issue shares of one or more series of our preferred stock from time to time. As of May 1, 2025, 50,000 shares of preferred stock had been designated as 8% Preferred and no shares of our 8% Preferred were issued and outstanding, 3,500,000 shares of preferred stock had been designated as Series A Preferred and no shares of our Series A Preferred were issued and outstanding, 125,000 shares of preferred stock had been designated as Series B Preferred and no shares of our Series B Preferred were issued and outstanding, 250,000 shares of preferred stock had been designated as Series C Preferred and 196,181 shares of our Series C Preferred were issued and outstanding, 300,000 shares of preferred stock had been designated as Series D Preferred and 142,500 shares of our Series D Preferred were issued and outstanding, and 230,000 shares of preferred stock had been designated as Series E Preferred and 230,000 shares of our Series E Preferred were issued and outstanding. Our articles may be amended in accordance with the IBCL to increase the number of authorized shares of preferred stock that we may issue. Our board of directors may, without any action by holders of common stock and except as may be otherwise provided in the terms of any series of preferred stock of which there are shares outstanding, adopt resolutions to designate and establish a new series of preferred stock. Upon establishing such a series of preferred stock, our board of directors will determine the number of shares of preferred stock of that series that may be issued and the rights and preferences of that series of preferred stock. The rights of any series of preferred stock may include, among others:

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general or special voting rights;

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preferential liquidation rights;

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preferential cumulative or noncumulative dividend rights;

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redemption or put rights; and

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conversion or exchange rights.

We may issue shares of, or rights to purchase shares of, one or more series of our preferred stock that have been designated from time to time, the terms of which might:

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adversely affect voting or other rights evidenced by, or amounts otherwise payable with respect to, the common stock or other series of preferred stock;

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discourage an unsolicited proposal to acquire