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Dynex Capital, Inc. Announces Pricing of Public Offering of Series D Fixed-Rate Cumulative Redeemable Preferred Stock

DX
  • Dynex Capital, Inc. priced a public offering of 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock with a $25.00 liquidation preference per share.
  • The offering is expected to generate $120 million in gross proceeds before underwriting discounts, commissions, & offering expenses.
  • Underwriters received a 30-day option to purchase up to an additional 720,000 shares of the Series D Preferred Stock.
  • The transaction is subject to customary closing conditions & is expected to close on September 29, 2026.
  • Dynex Capital intends to list the Series D Preferred Stock on the New York Stock Exchange under the symbol "DXPRD".
  • Net proceeds will be used to finance the acquisition of Agency & other investment securities & for general corporate purposes.
  • Morgan Stanley, J.P. Morgan, RBC Capital Markets, UBS, Wells Fargo, Citigroup, Goldman Sachs, & Keefe, Bruyette & Woods serve as joint book-running managers.
  • The offering is conducted pursuant to an effective Form S-3 shelf registration statement filed with the SEC.