Ellington Credit Co (EARN) Form 424B3 — Jun 11, 2026
Ellington Credit Company (EARN) filed a prospectus supplement registering the resale of up to 7,500,000 common shares by selling shareholder Citizens JMP Securities, LLC. These shares are part of a committed equity financing facility under which the Fund may, at its sole discretion, issue and sell up to $35 million in aggregate gross purchase price of common shares to Citizens JMP over a 36-month period. The Fund estimates its net asset value per share was between $4.26 and $4.32 as of April 30, 2026, with a midpoint of $4.29. The last reported sales price on the NYSE was $4.72, representing a 10.0% premium to the estimated NAV midpoint.
Key figures
- Total Debt
- 210000000
- Cash Position
- 0
- Gross Proceeds
- 35000000
- Offering Price
- 0
- Shares Offered
- 7500000
- Premium to nav
- 10.0%
- Last sales price
- 4.72
- Average borrowings
- 210000000
- Exchange cap shares
- 7512155
- Management fee rate
- 1.50%
- Exchange cap percent
- 19.99%
- Average interest rate
- 5.81%
- Nav per share midpoint
- 4.29
- Performance fee hurdle
- 8.00% annualized
AI analysis
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