IPO - Meridian Corp

Form Type: 8-K

Filing Date: 2025-02-20

Corporate Action: Ipo

Type: New

Accession Number: 000110465925015733

Filing Summary: On February 20, 2025, Meridian Corporation entered into an Equity Distribution Agreement with D.A. Davidson & Co. to facilitate the offering and sale of its common stock. The Company authorized the sale of up to 1,000,000 shares at its discretion through the Distribution Agent, which acts as the sales agent for the offering. The shares may be sold on the NASDAQ Stock Market or other trading markets, possibly at market prices or negotiated prices. The shares will be issued under an effective Registration Statement on Form S-3. The agreement may be suspended under certain conditions and the offering will end when 1,000,000 shares are sold or if either party terminates the agreement. The Distribution Agent will receive a commission of 2.75% of the gross proceeds from sales and will be reimbursed for certain expenses up to $75,000. The Company has made customary representations regarding its registrations and agreed to indemnify the Distribution Agent against specific liabilities. A legal opinion concerning the validity of the shares was also filed as part of the report.

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