Dynex Capital Prices $120 Million Series D Preferred Stock Offering
Dynex Capital has priced a public offering of 4.8 million shares of its 9.375% Series D preferred stock, with each share carrying a liquidation preference of $25. The transaction is expected to raise approximately $120 million in gross proceeds before expenses and underwriting discounts. The company has also granted the underwriters an option to purchase additional shares within 30 days, which could potentially increase the total offering size. This capital-raising move reflects Dynex Capital's strategy to strengthen its balance sheet and support ongoing operations.
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