Ellington offers $25-par fixed-rate reset cumulative preferreds

By Marisa Wong

Los Angeles, Dec. 8 – Ellington Financial Inc. plans to price an offering of $25-par series B fixed-rate reset cumulative redeemable preferred stock, according to a 424B5 filing with the Securities and Exchange Commission.

Piper Sandler & Co. is the bookrunner.

The preferreds are redeemable beginning Jan. 30, 2027. Prior to that, the preferreds are redeemable within 120 days after a change of control has occurred.

Ellington plans to use the proceeds for the purchase of targeted assets and for working capital and general corporate purposes.

The company plans to list the preferreds on the New York Stock Exchange under the symbol “EFCPRB.”

Ellington is an Old Greenwich, Conn.-based mortgage-related asset manager.

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