DYNEX CAPITAL INC — Form 8-K
Filed September 25, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Dynex Capital priced a public offering of 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock at $25.00 liquidation preference per share on September 22, 2026, yielding gross proceeds of $120 million ($116.2M net to company at $24.2125/share after $0.7875/share underwriting discount). Underwriters (Morgan Stanley, J.P. Morgan, RBC, UBS, Wells Fargo, Citi, Goldman Sachs, KBW) have a 30-day option to purchase an additional 720,000 shares (~$18M more). Settlement September 29, 2026. Company will use proceeds for Agency securities acquisition and general corporate purposes. Stock to list on NYSE as DXPRD.
Why this rating
~$116M net proceeds = 7.7% of $1.5B market cap; material but routine capital raise for a REIT. No operational changes, strategic M&A, or guidance revisions.
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