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.
The V&E corporate team was led by partners Daniel LeBey and Chris Green, with assistance from senior associate Zach Swartz, associate Bekah Briggs and senior associate Caroline Bailey.
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.
About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.
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