Ellington Financial Inc. (NYSE: EFC) has announced the redemption of all 4,600,000 outstanding shares of its Series A fixed-to-floating rate cumulative redeemable preferred stock (NYSE: EFC PR A). The redemption date is set for February 27, 2026, and the Series A preferred stock will be redeemed at a price equal to the liquidation preference of $25.00 per share, plus accrued and unpaid dividends.
Following the redemption, the Series A preferred stock will no longer be considered outstanding, and dividends will cease to accumulate. In conjunction with the planned redemption, the Series A preferred stock will be suspended from trading on the New York Stock Exchange (NYSE) before the market opens on the redemption date.
All shares of the Series A preferred stock are held through the Depository Trust Company (DTC), and the redemption will be carried out in accordance with DTC procedures. Equiniti Trust Company, LLC will act as the redemption agent and will make the payment to DTC for the Series A preferred stock.
For any questions regarding the redemption, the redemption agent can be contacted toll-free at 718-921-8317.
It's important to note that this press release does not constitute a notice of redemption under the certificate of designation governing the Series A preferred stock. The market has reacted to these announcements by moving the company's shares 1.16% to a price of $14.01. For the full picture, make sure to review Ellington Financial's 8-K report.
