Ellington offers fixed-rate reset cumulative redeemable preferreds

By Marisa Wong

Los Angeles, Feb. 2 – Ellington Financial Inc. plans to price an offering of series C fixed-rate reset cumulative redeemable preferred stock, according to a press release.

Piper Sandler & Co. is the bookrunner.

Ellington plans to use proceeds to acquire targeted assets and for working capital and general corporate purposes.

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

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

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