Ellington Financial Inc. Prices Public Offering of 6.250% Series B Fixed-Rate Reset Cumulative Redeemable Preferred Stock
Vinson & Elkins advised Ellington Financial Inc. in connection with an underwritten public offering of 4,400,000 shares of 6.250% Series B Fixed-Rate Reset Cumulative Redeemable Preferred Stock, with a liquidation preference of $25.00 per share, for gross proceeds of $110 million before deducting underwriting discounts and estimated offering expenses.
The offering priced on December 8, 2021.
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies and other strategic investments.
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