Dynex Capital closes 4.8 million-share 9.375% Series D preferred stock offering
Dynex Capital closed its underwritten public offering of 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock on September 29, 2026, with underwriters holding an option for 720,000 more shares. The Articles of Amendment creating the series took effect the same day, adding a senior class of preferred stock that pays $2.34375 per share annually on a $25.00 liquidation preference.
Key points
- 4,800,000 Series D preferred shares sold in the underwritten offering, plus a 30-day option for up to 720,000 additional shares
- Dividends of 9.375% of the $25.00 liquidation preference, or $2.34375 per share per year, payable quarterly starting January 15, 2027
- Series D shares cannot be redeemed before October 15, 2031, except in certain tax-related cases or upon a Change of Control
- Series C preferred stock (4,460,000 shares outstanding) ranks on parity with the new Series D shares; the Series D shares rank junior to all of the company's debt
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.