Ellington Financial launches 8.8 million share public offering

Ellington Financial Inc. (NYSE: EFC) announced an underwritten public offering of 8,775,000 shares of common stock. The company granted underwriters a 30-day option to purchase up to an additional 1,316,250 shares.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC serve as joint book-running managers for the offering. The shares are being offered under the company's existing shelf registration statement on Form S-3, which became effective December 23, 2025.

Ellington Financial plans to use net proceeds to fund the redemption of all outstanding shares of its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The Series A Preferred Stock currently carries a floating dividend rate equal to the 3-month Secured Overnight Financing Rate plus 5.458% per annum. The redemption is subject to a minimum 30-day notice period.

Any remaining proceeds will be used for general corporate purposes, which may include acquiring targeted assets in accordance with the company's investment objectives and strategies.

Ellington Financial invests in residential and commercial mortgage loans, mortgage-backed securities, reverse mortgage loans, mortgage servicing rights, consumer loans, asset-backed securities, collateralized loan obligations, and other financial instruments. The company is externally managed by Ellington Financial Management LLC, an affiliate of Ellington Management Group.

The information is based on a company press release statement.

You May Also Be Interested In

• Jupiter Neurosciences prices $2M registered direct offering of shares
• Evolution Petroleum closes $16M Midland Basin royalty acquisition
• Winnebago Industries extends $350M credit facility to 2031