Ellington Financial (EFC) Prices 6M Share Offering at $18.22/sh

Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial” or the “Company”) announced today that it has priced an underwritten public offering of 6,000,000 shares of common stock at a price to the public of $18.22 per share. The Company has granted the underwriters an option for 30 days to purchase up to an additional 900,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on July 9, 2021. Morgan Stanley & Co. LLC, UBS Securities LLC, BofA Securities, Inc., JMP Securities LLC and Keefe Bruyette & Woods, Inc., A Stifel Company are acting as joint book-running managers for the offering. BTIG, LLC and Piper Sandler & Co. are acting as co-managers for 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.

The shares of common stock will be issued under the Company’s existing shelf 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 by means of a prospectus supplement and accompanying base prospectus, which will be filed with the Securities and Exchange Commission. Copies of the final prospectus supplement and accompanying base prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, or by telephone at (888) 827-7275; or BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department; JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, California 94111, Attention: Prospectus Department, by calling +1 (415) 835-8985; or Keefe, Bruyette & Woods, Inc., A Stifel Company at 787 Seventh Avenue, Fourth Floor, New York, NY 10019, by fax at 212-581-1592, or by calling 1-800-966-1559.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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