Ellington Credit Co (EARN) Form 424B3 — Oct 23, 2026
Ellington Credit Company filed a 424B3 prospectus supplement establishing a $125 million at-the-market equity program under an Equity Distribution Agreement dated October 23, 2026 with Citizens JMP Securities, B. Riley Securities, Lucid Capital Markets, and Armstrong Securities. The ATM replaces a fixed-price offering: shares are sold from time to time at prevailing market prices, subject to a floor ensuring sales net of commissions are not below NAV. The Fund pays agents up to 2.0% in commissions, and if fully sold, estimated net proceeds would be approximately $121.81 million for general corporate purposes including CLO investments, typically deployed within one month.
Key figures
- Nav Per Share
- 4.04
- Gross Proceeds
- 125000000
- Last Sale Price
- 4.04
- Offering Price
- sales at prevailing market prices; last reported NYSE price $4.04 as of 2026-09-30
- Shelf Capacity
- 500000000
- Commission Rate
- up to 2.0% of gross proceeds
- Offering Expenses
- 690000
- Estimated Net Proceeds
- 121810000
- Emg aum usd
- 23000000000
- Management fee pct
- 1.5
- Performance fee rate pct
- 17.5
- Assumed avg borrowings usd
- 258000000
- Asset coverage debt pct approx
- 686
- Assumed avg borrowing rate pct
- 5.84
- Total annual fund expenses pct
- 13.99
- Performance fee hurdle annualized pct
- 8
- Total annual fund expenses incl clo indirect pct
- 25.9
AI analysis
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