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

Company: Farmers & Merchants Bancshares, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 25
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 we enter into any agreement with any such person regarding the resale or distribution by any such person of the shares of our common stock so purchased.

Our common stock may not be available under the Plan in all states or jurisdictions. In particular, stockholders of record who reside in Arizona, California, Ohio or Oregon are not currently eligible to participate in the Plan. This prospectus does not constitute an offer to sell, or a solicitation of an offer to buy, any of our common stock or other securities in any jurisdiction to any person to whom it is unlawful to make such offer in such jurisdiction.

<div align='center'>-14-

USE OF PROCEEDS</div>

We will receive the proceeds of sales of shares under the Plan. We do not know the number of shares that we will ultimately sell under the Plan, the prices at which we will sell them, or the amount of the proceeds that we will receive. A total of 500,000 shares have been reserved for sale and issuance under the Plan.

We intend to add any proceeds that we receive to our general funds to be used for our general corporate purposes. Such purposes may include:

| ● | Our working capital needs; |

| ● | Possible additional investments in our direct and indirect subsidiaries; |

| ● | Possible acquisitions of other financial institutions or their assets; |

| ● | Possible acquisitions of, or investments in, other businesses of a type eligible for financial holding companies or Maryland-chartered commercial banks; and/or |

| ● | Possible reduction in outstanding indebtedness. |

We may temporarily invest the proceeds in investment-grade securities. We have no specific plans for any proceeds. Our principle purpose in making the offering is to provide our stockholders with a convenient and automatic way to increase their ownership of our common stock.

<div align='center'>DESCRIPTION OF THE COMMON STOCK</div>

The Company is authorized by its Charter to issue up to 5,000,000 shares of capital stock, all of which have been classified as shares of common stock, par value $.01 per share. The Charter permits the Company’s board of directors, without stockholder approval, to classify and reclassify authorized but unissued shares of capital stock of any class or series by setting or changing in any one or more respects the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, or terms or conditions of redemption of the shares of stock.

As of May 15, 2025, there were 3,175,347 shares of common stock issued and outstanding