Dynex Capital, Inc. has priced a public offering of 4,800,000 shares of its 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock at a liquidation preference of $25.00 per share, for total expected gross proceeds of $120 million before underwriting discounts and commissions and offering expenses. The company has granted the underwriters a 30-day option to purchase up to an additional 720,000 shares of the Series D Preferred Stock. The offering is expected to close on September 29, 2026, subject to customary closing conditions, and Dynex intends to list the Series D Preferred Stock on the New York Stock Exchange under the symbol DXPRD. Net proceeds are intended to finance the acquisition of Agency and other investment securities and for general corporate purposes. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, UBS Investment Bank, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Keefe, Bruyette & Woods, Inc. are acting as joint book-running managers.
Dynex Capital IncDynex priced a $120M Series D preferred offering, raising capital to fund Agency securities acquisitions.
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