Company sells 4,025,000 common shares to finance corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 11 - Ellington Financial LLC said underwriters for its $78.58 million public sale of stock have elected to exercise the greenshoe in full for a total of $90.36 million in proceeds. The deal was announced Aug. 14 and priced for $78.58 million with an $11.79 million greenshoe on Aug. 15.
The company sold 4,025,000 common shares at $22.45 apiece. The price per share is a 4.02% discount to the Aug. 1 closing share price of $23.39. Of the shares, 525,000 were part of the fully exercised greenshoe.
Deutsche Bank Securities and BofA Merrill Lynch were the joint bookrunning managers.
Settlement is expected Sept. 12.
Proceeds will be used to purchase targeted assets and for general corporate purposes.
Ellington is a specialty finance company formed to specialize in various fixed-income investment strategies. The company is based in Old Greenwich, Conn.
| Issuer: | Ellington Financial LLC
|
| Issue: | Common shares
|
| Amount: | $90,361,250 (including $11,786,250 greenshoe)
|
| Shares: | 4,025,000
|
| Price: | $22.45
|
| Warrants: | No
|
| Bookrunners: | Deutsche Bank Securities and Bank of America Merrill Lynch
|
| Co-managers: | Stifel Nicolaus Weisel and JMP Securities
|
| Announcement date: | Aug. 14
|
| Pricing date: | Aug. 15
|
| Settlement date: | Sept. 12
|
| Stock symbol: | NYSE: EFC
|
| Stock price: | $23.39 at close Aug. 14
|
| Market capitalization: | $386.66 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.
