Dynex Capital Adds Goldman Sachs, Morgan Stanley as Agents for At-The-Market Offering

summarizeSummary

Dynex Capital amended its existing At-The-Market (ATM) distribution agreement to include Goldman Sachs and Morgan Stanley as sales agents, enhancing its capacity to raise capital.

check_boxKey Events

• Expanded Sales Agent Syndicate

  Dynex Capital added Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as sales agents to its At-The-Market (ATM) distribution agreement, enhancing its capital raising capabilities.

• Amendment to Existing ATM Program

  This filing is Amendment No. 9 to an ongoing ATM distribution agreement, which has been in place since 2018 and was last amended in January 2026 for a $961 million offering.

• Facilitates Potential Dilution

  The ATM program authorizes the sale of up to 221,292,973 shares, representing a substantial potential for dilution if fully utilized, which this amendment helps facilitate.

auto_awesomeAnalysis

This amendment strengthens Dynex Capital's ability to execute its substantial At-The-Market (ATM) offering program by adding two major investment banks, Goldman Sachs and Morgan Stanley, as sales agents. This operational enhancement is critical for efficient capital raising, especially given the company's recent financial performance, including a Q1 net loss and book value decline. The ATM program authorizes the sale of up to 221,292,973 shares, which represents a significant potential for dilution if fully utilized. Investors should monitor the actual utilization of the ATM program, which this amendment facilitates, for its impact on outstanding shares and shareholder value.