secwatch.observer — SEC 8-K summary
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Issuer:     Ellington Credit Co (EARN)
CIK:        0001560672
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001560672-25-000039
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 3.03, 5.03, 5.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ellington Credit completes conversion to closed-end fund, plans to sell Agency MBS, acquire more CLOs
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- Converted to Delaware-domiciled closed-end fund registered under 1940 Act, effective April 1, 2025; will be taxed as RIC.
- New advisory agreement: 1.50% base management fee on NAV plus performance fee with 8% annual hurdle and 17.5% catch-up.
- Existing management agreement terminated on March 31, 2025; no termination fee paid.
- Adopted Dividend Reinvestment Plan at 95% of market price; changed fiscal and tax year end to March 31.
- Press release: intends to sell remaining Agency MBS pools and acquire additional corporate CLOs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560672/000156067225000039/0001560672-25-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560672/000156067225000039/earn-20250328.htm
  HTML page:      https://secwatch.observer/filing/0001560672-25-000039

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