Dynex Capital prices 4,800,000 shares of 9.375% Series D preferred stock for USD 120 million
DX•DX•DX•DX•Dynex Capital priced a public offering of 4,800,000 shares of its 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock.
Gross proceeds are expected to be USD 120 million, and underwriters have a 30-day option to buy up to 720,000 additional shares.
The preferred shares have a liquidation preference of USD 25 per share. Closing is targeted for Sept. 29, 2026, subject to customary conditions.
Dynex said net proceeds will be used to acquire Agency and other investment securities and for general corporate purposes. The preferred shares are expected to list on the NYSE under the symbol DXPRD.
