MERCANTILE BANCORP, INC. DEALER-MANAGER AGREEMENT September 23, 2010Dealer-Manager Agreement • September 28th, 2010 • Mercantile Bancorp, Inc. • National commercial banks • Illinois
The following will confirm our agreement relating to the proposed rights offering (the “Rights Offering”) to be undertaken by Mercantile Bancorp, Inc., a Delaware corporation (the “Company”), pursuant to which the Company will distribute to the holders of record of its common stock, par value $0.4167 per share (the “Common Stock”), subscription rights (the “Rights”), as set forth in the Company’s Registration Statement on Form S-1 (Registration No. 333-168075) filed with the Securities and Exchange Commission (the “Commission”) on July 12, 2010, to subscribe for and purchase a unit (the “Units”), each consisting of one share of the Common Stock (the “Rights Shares”) and a warrant to purchase one share of the Common Stock (the “Rights Warrants”) for each share of Common Stock held by such holders of record, at a subscription price equal to $2.50 per Unit in cash (the “Subscription Price”). The Rights Warrants will be exercisable until September 23, 2015 at an exercise price of $3.75 per
