Company sells 3.5 million common shares to purchase targeted assets
By Devika Patel
Knoxville, Tenn., Aug. 15 - Ellington Financial LLC priced a $78.58 million public sale of stock with an $11.79 million greenshoe in a prospectus supplement filed Wednesday with the Securities and Exchange Commission. The deal was announced Tuesday.
The company will sell 3.5 million common shares at $22.45 apiece. The underwriters have an over-allotment option of an additional 525,000 shares. The price per share is a 4.02% discount to the Aug. 1 closing share price of $23.39.
Deutsche Bank Securities, Bank of America Merrill Lynch, Stifel Nicolaus Weisel and JMP Securities are assisting.
Settlement is expected Aug. 20.
Proceeds will be used to purchase targeted assets and for general corporate purposes.
Ellington is a specialty finance company that acquires and manages mortgage-related assets. The company is based in Old Greenwich, Conn.
| Issuer: | Ellington Financial LLC
|
| Issue: | Common shares
|
| Amount: | $78,575,000
|
| Greenshoe: | $11,786,250
|
| Shares: | 3.5 million
|
| Price: | $22.45
|
| Warrants: | No
|
| Announcement date: | Aug. 14
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 20
|
| Stock symbol: | NYSE: EFC
|
| Stock price: | $23.39 at close Aug. 14
|
| Market capitalization: | $369.24 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
