Company: FMFG
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001437749-25-018314
Chunk: 2

Company: Farmers & Merchants Bancshares, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 2
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us, we intend to offer a 5% discount for future dividend reinvestment purchases, but we reserve the right to change or eliminate the discount at any time. As of the date of this prospectus, participation in the Plan is unavailable to stockholders of record who reside in Arizona, California, Ohio, Oregon or any other jurisdiction in which it is unlawful for us to permit participation. Certain transactions under the Plan are subject to fees and commission charges for which you will be responsible. Please see the discussion of “Costs” in the section of this prospectus entitled “DESCRIPTION OF THE PLAN” for further details regarding these fees and commission charges.

Shares of common stock sold under the Plan will be newly issued shares. The purchase price for each share will be the fair market value of a share of common stock as determined by our board of directors, less any discount set by our board of directors in its sole discretion. If our shares are traded on a securities exchange or in the over-the-counter market at the time the dividend is declared, then the fair market value for this purpose will be the weighted average closing sales price of the common stock for the 10 trading days preceding the date on which that dividend is declared as reported through the securities exchange or the over-the-counter market (or, if no sales were reported during such 10 trading day period, the most recently-reported closing sales price). If the common stock is not then traded on a securities exchange or in the over-the-counter market, then the fair market value of a share as of the applicable dividend declaration date will be determined by our board of directors in good faith. No brokerage commissions or fees will be charged for purchases made through the Plan. No underwriter is being used in connection with this offering.

Our common stock is not listed or traded on any securities exchange. Certain broker-dealers make a market in our common stock in the over-the-counter market, and price quotations relating to those transactions are available through the OTC Markets Group Inc.’s OTC Pink Market under the symbol “FMFG”. On [•], the most recent date on which a sale occurred, the closing sales price of the common stock as reported through the OTC Pink Market was $[•] per share. Privately-negotiated sales of the common stock do occur, and the prices at which shares are sold in those transactions may not be the same as the prices reported through the Pink Market or, thus, the price at which you buy shares under the Plan.

We will receive all of the net proceeds from