DYNEX CAPITAL INC (DX): Entry into a Material Definitive Agreement
DYNEX CAPITAL INC (DX) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Exhibit 99.1 PRESS RELEASE FOR IMMEDIATE RELEASE September 22, 2026 DYNEX CAPITAL, INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF SERIES D FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED STOCK GLEN ALLEN, Va. -- Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that it has
How this was made
The 30-second read
Why it matters
The offering introduces a new preferred class and raises capital for acquisitions, likely pressuring the common share price.
Market read
Primary disclosure of a sizable capital raise for a mid‑cap REIT; traders can act on potential price impact.
What to watch
The option for underwriters to buy additional shares could increase total dilution beyond the announced $120 M.
Background
Dynex Capital filed an 8‑K reporting the pricing of a Series D preferred stock offering of 4.8 million shares at 9.375% coupon, grossing $120 million.
Ticker impact
Dynex Capital announced pricing a $120 million Series D preferred stock offering.
Potential short‑term downside as investors price in dilution, with support near current levels if proceeds are used for acquisitions.
Primary 8‑K filing, sizable raise for a mid‑cap REIT; market typically reacts to dilution and new preferred issuance.
Market effects
May signal increased capital deployment in mortgage‑backed securities, affecting other REITs.
U.S. mortgage‑backed securities market could see modest liquidity boost.
Limited to U.S. REIT sector; no broader macro impact.
Counterpoint
If the proceeds fund high‑yielding acquisitions, the dilution could be offset by earnings accretion, supporting upside.
Key entities
- companyDynex Capital Inc.
NYSE‑listed REIT focusing on mortgage assets.
- underwriterMorgan Stanley & Co. LLC
Joint book‑running manager for the offering.
