Ellington Financial (EFC) Prices 5M Shares at $18.26/Sh

Ellington Financial Inc. (NYSE: EFC) announced today that it has priced an underwritten public offering of 5,000,000 shares of its common stock for total expected gross proceeds of $91.3 million, before underwriting fees and estimated offering expenses. The Company also granted the underwriters an option for 30 days to purchase up to an additional 750,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on October 15, 2021. Morgan Stanley & Co. LLC, BofA Securities, J.P. Morgan, UBS Securities LLC and Keefe, Bruyette & Woods, A Stifel Company are acting as joint book-running managers for the offering. BTIG, LLC and Piper Sandler & Co. are acting as co-managers for the offering.

The Company expects to use the net proceeds of the offering to acquire its targeted assets. The Company may also use the net proceeds for working capital and general corporate purposes.

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