Dynex Capital, Inc. Announces Public Offering Of Series A Cumulative Redeemable Preferred Stock

Dynex Capital, Inc. (NYSE: DX) (the “ Company”) announced today that it intends to make a public offering of shares of an original issuance of Series A Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the “Series A Preferred Stock”). The Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series A Preferred Stock to cover any overallotments. The Company also intends to apply to list the Series A Preferred Stock on the New York Stock Exchange.

The Company intends to use the net proceeds from this offering to acquire additional investments, consistent with its investment strategy, and for general corporate purposes, which may include, among other things, repayment of maturing obligations, capital expenditures and working capital.

J.P. Morgan Securities LLC, Barclays Capital Inc., and Jefferies & Company, Inc. are acting as the joint book running managers for the offering.

The offering is being made pursuant to the Company’s existing shelf registration statement that has been declared effective by the SEC. The offering of these securities may be made only by means of a prospectus and a related prospectus supplement that should be read prior to investing, a copy of which may be obtained by visiting EDGAR on the SEC website at http://www.sec.gov when available or contacting:
J.P. Morgan Securities LLC Barclays Capital Inc.
383 Madison Avenue c/o Broadridge Financial Solutions
New York, New York 10179 1155 Long Island Avenue
Attn: Investment Grade Syndicate Desk – 3rd floor Edgewood, NY 11717
Telephone: 1-212-834-4533

Telephone: 1-888-603-5847
Jefferies & Company, Inc.
Attn: Debt Capital Markets
520 Madison Avenue
New York, NY 10022
Telephone: 201-761-7610

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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