Dynex Capital (DX) Prices 12.5 Million Share Offering

Dynex Capital, Inc. (NYSE: DX) announced today that it has priced a public offering of 12,500,000 shares of its common stock for total gross proceeds (before the underwriters’ compensation and estimated expenses) of approximately $114 million. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and JMP Securities are acting as joint book-running managers for the offering and have offered the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale or otherwise. The Company has granted the underwriters an option for 30 days to purchase up to an additional 1,875,000 shares of the Company’s common stock. The offering is subject to customary closing conditions and is expected to close on February 1, 2012.

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