Ellington Financial Inc. evaluates offering of common shares

OLD GREENWICH, Connecticut – (COMMERCIAL THREAD) – Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial” or the “Company”) announced today that it has priced a firm takeover bid of 5,000,000 of common shares for total expected gross proceeds of $ 91.3 million, before estimated subscription costs and offering costs. The Company has also granted the underwriters a 30 day option to purchase up to 750,000 additional common shares. The offer is subject to customary closing conditions and is expected to close on October 15, 2021. Morgan Stanley & Co. LLC, BofA Securities, JP Morgan, UBS Securities LLC and Keefe, Bruyette & Woods, A Stifel company act as co-book managers for the offer. BTIG, LLC and Piper Sandler & Co. act as co-managers of the offering.

The Company expects to use the net proceeds of the offering to acquire its targeted assets. The Company may also use the net proceeds for working capital and general corporate purposes. Common shares will be issued under the Company’s existing store registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on April 9, 2021. The offering is being made only through an accompanying prospectus and base prospectus supplement, which will be filed with the Securities and Exchange Commission. Copies of the Final Prospectus Supplement and accompanying base prospectus relating to the Offer may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 ; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn .: Prospectus Department or by email at [email protected]; or JP Morgan Securities LLC, c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at 1-866-803-9204, or by email at [email protected]; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, or by phone at (888) 827-7275; or Keefe, Bruyette & Woods, A Stifel company at 787 Seventh Avenue, Fourth Floor, New York, NY 10019, by email at [email protected], by fax at 212-581-1592 or by phone at 1-800-966-1559.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Offered Shares or any other security, nor will there be any sale of such Shares or any other security in a state or other jurisdiction in which such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

About Ellington Financial

Ellington Financial invests in a wide range of financial assets including residential and commercial mortgages, residential and commercial mortgage-backed securities, consumer loans, and consumer-backed asset-backed securities. , guaranteed loan bonds, non-mortgage and mortgage derivatives, equity investments in loan origination companies and other strategic investments. Ellington Financial is managed and externally advised by Ellington Financial Management LLC, a subsidiary of Ellington Management Group, LLC

Forward-looking statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve many risks and uncertainties. Actual results may differ from the Company’s beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and may be identified by words such as “believe”, “expect”, “anticipate”, “estimate”, “project”, “plan”, “continue”, “have intention “” should “,” would “,” could “,” goal “,” objective “,” will “,” may “,” research “, or similar expressions or their negative forms, or by references to a strategy, plans or intentions. Examples of forward-looking statements in this press release include, without limitation, statements regarding the completion of the offering of common shares of the Company and the intended use of the proceeds. The Company’s results may fluctuate from month to month and quarter to quarter depending on a variety of factors, some of which are beyond the control of the Company and / or are difficult to predict, including , without limitation, changes in interest rates and market value. the Company’s investments, changes in mortgage default rates and prepayment rates, the Company’s ability to borrow to finance its assets, changes in government regulations affecting the Company’s business, the Company’s ability to maintain its exclusion from registration under the Investment Company Act of 1940, the Company’s ability to maintain its qualification as a real estate investment trust, or “REIT”, other changes in market conditions and economic trends, and changes resulting from the economic effects of the COVID-19 pandemic and responses associated with the pandemic. Due to known and unknown risks, including the risk that the assumptions on which forward-looking statements are based prove to be incorrect, actual results may differ materially from expectations or projections. No guarantee can be given that the offer discussed above will be completed under the conditions described or at all, or that the net proceeds of the offer will be used as indicated. The completion of the Offer under the conditions described, and the application of the net proceeds of the Offer, are subject to many possible events, factors, risks and uncertainties, including, among others, those described in Section 1A of the Company’s annual report on Form 10-K filed March 16, 2021, as amended, accessible on the SEC’s website (www.sec.gov). Other risks, uncertainties and factors that could cause actual results to differ materially from those projected or implied may be described from time to time in reports that the Company files with the SEC, including reports on forms 10-Q, 10-K and 8 -K. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Previous Yellen on the IRS $ 600 filing requirement: “There is a lot of tax evasion and cheating going on. "
Next Centaur Media Trading Update as it Hosts Capital Markets Day