DYNEX CAPITAL INC (DX) Form 8-K — Sep 25, 2026
Dynex Capital (NYSE: DX) priced a public offering of 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock at a $25.00 liquidation preference per share, for total expected gross proceeds of $120 million. Underwriters led by Morgan Stanley, J.P. Morgan, RBC, UBS, Wells Fargo, Citi, Goldman Sachs and KBW hold a 30-day option on an additional 720,000 shares; net proceeds before expenses are expected to be approximately $116.2 million, rising to $133.7 million with a full greenshoe.
Key figures
- Gross Proceeds
- 120000000
- Offering Price
- 25
- Shares Offered
- 4800000
- Settlement
- September 29, 2026 (T+5)
- Dividend Rate
- 9.375% per annum fixed on $25.00 liquidation preference
- Proposed Ticker
- DXPRD
- Greenshoe Shares
- 720000
- First Dividend Per Share
- 0.6901
- Optional Redemption Date
- October 15, 2031
- Net Proceeds Before Expenses
- 116220000
- Underwriting Discount Total
- 3780000
- Underwriting Discount Per Share
- 0.7875
- Liquidation Preference Per Share
- 25
- Net Proceeds If Greenshoe Exercised
- 133653000
AI analysis
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