Dynex Capital closes offering of 4,800,000 9.375% Series D preferred shares

DYNEX CAPITAL INC

Dynex Capital closed its underwritten public offering of 4,800,000 shares of 9.375% Series D preferred stock at a $25.00 liquidation preference.
The underwriting agreement included a 30-day option for up to 720,000 additional Series D shares; Articles of Amendment effective Sept. 29, 2026 designated 5,520,000 Series D shares.
Series D pays cumulative quarterly dividends at 9.375% of $25.00, or $2.34375 per share annually, with the first payment due Jan. 15, 2027.
Series D ranks pari passu with 6.900% Series C preferred and senior to common; 4,460,000 Series C shares were outstanding.
Series D is not redeemable before Oct. 15, 2031, except for Change of Control or REIT/REMIC tax preservation; then redeemable at $25.00 plus accrued dividends.

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