Dynex Capital Inc Prices Public Offering of Preferred Stock

By Philip Seaworth • Saturday, September 26 10:51 • Permanent Link

Dynex Capital priced a public offering of 4.8 million shares of its Series D fixed-rate cumulative redeemable preferred stock, expecting gross proceeds of $120 million before underwriting discounts, commissions and offering expenses.

The preferred shares carry a 9.375% coupon and a $25 liquidation preference per share. Dynex also granted underwriters a 30-day option to buy up to 720,000 additional shares, which would increase the size of the deal by 15%.

The company said the offering is expected to close on Sept. 29, 2026. Dynex plans to list the Series D preferred stock on the New York Stock Exchange under the symbol DXPRD.

Dynex said it intends to use the net proceeds to buy agency and other investment securities and for general corporate purposes.

The deal is being led by Morgan Stanley, JPMorgan, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Citigroup Global Markets, Goldman Sachs and Keefe, Bruyette & Woods. The market has reacted to these announcements by moving the company's shares -3.33% to a price of $11.34. If you want to know more, read the company's complete 8-K report here.

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