---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-175436"
form_type: "8-K"
ticker: "NLY"
cik: "0001043219"
company_name: "ANNALY CAPITAL MANAGEMENT INC"
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:00:46.657873+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Annaly issues 11M shares of 8.875% Series J Preferred Stock, raising ~$275M

## Summary
- Series J pays 8.875% fixed annual dividend on $25 liquidation preference ($2.21875/share).
- Quarterly dividends begin Dec 31, 2025; payable last day of March, June, September, December.
- No redemption before Sep 30, 2030 except for REIT qualification or change of control.
- Preferred ranks senior to common stock; limited voting rights if dividends unpaid for 6+ quarters.
- Underwriters exercised option for 1M additional shares; total 11M shares closed Aug 7, 2025.

## SEC filing metadata
- accession: 0001193125-25-175436
- form_type: 8-K
- ticker: NLY
- cik: 0001043219
- company_name: ANNALY CAPITAL MANAGEMENT INC
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1043219/000119312525175436/0001193125-25-175436-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1043219/000119312525175436/d73706d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-175436
- JSON: https://secwatch.observer/filing/0001193125-25-175436.json
- Plain text: https://secwatch.observer/filing/0001193125-25-175436.txt

## Key facts
- Governance Changes
  ANNALY CAPITAL MANAGEMENT INC: Filed Articles Supplementary to classify and designate Series J Fixed-Rate Cumulative Redeemable Preferred Stock (effective 2025-08-06).
  - Change: charter amendment
  - Effective: 2025-08-06
  source text: On August 6, 2025, Annaly Capital Management, Inc. (the “Company”) filed, with the State Department of Assessments and Taxation of the State of Maryland (the “SDAT”), Articles Supplementary (the “Series J Articles Supplementary”) to the charter of the Company classifying and designating 11,500,000 shares of the Company’s authorized common stock, par value $0.01 per share (“Common Stock”), as its 8.875% Series J Fixed-Rate Cumulative Redeemable Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1043219/000119312525175436/0001193125-25-175436-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.