IPO in The Books For Merchants Bancorp

Merchants completed its Initial Public Offering in late October.

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Carmel-based Merchants Bancorp (Nasdaq: MBIN) says it has raised more than $92 million from an Initial Public Offering. The company closed on the IPO October 27 after offering 6.25 million shares of common stock for $16 per share.

When the IPO was announced in September, officials said the offering could bring in up to $115 million. A portion of the proceeds, $5.8 million, has been slated to be used to complete the Illinois-based Joy State Bank acquisition. Last Friday, Merchants Bancorp Chairman and Chief Executive Officer Michael Petrie rang the closing bell at the Nasdaq MarketSite in New York City in honor of the IPO.

You can connect to more about the completed IPO by clicking here.