Ellington Residential Mortgage REIT Announces Public Offer Prices

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OLD GREENWICH, Connecticut, June 15, 2021– (BUSINESS WIRING) – Ellington Residential Mortgage REIT (NYSE: EARN) (the “Company”) today announced a public offering price of 3,250,000 common shares at $ 13.20 per share, which consists of 575,000 shares to be sold by the company. The company and 2,675,000 shares will be sold by the selling shareholder of Blackstone Tactical Opportunities EARN Holdings LLC. The company gave the underwriters a 30-day option to buy up to 487,500 ordinary shares. The placement is expected to close on June 17, 2021 and subject to normal closing conditions. Morgan Stanley & Co. LLC and UBS Securities LLC act as joint accountancy managers for the offering. Blackstone Securities Partners LP, BTIG, LLC and Piper Sandler & Co. act as co-managers for placement.

The company plans to use the net proceeds from the placement to acquire target assets. The company can also use the net proceeds for working capital and general corporate purposes. The company will not receive any proceeds from the sale of ordinary shares when placed by the selling shareholder.

The placement of ordinary shares will be carried out in accordance with the existing application for registration of the Company in the S-3 form (file No. 333-255515), which was announced by the Securities and Exchange Commission as valid on May 10, 2021, and is carried out only through the appendix to the prospectus and the accompanying its base prospectus to be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and its accompanying base prospectus pertaining to the offering may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, or by phone ( 888) 827-7275.

This press release does not constitute an offer to sell or an invitation to offer to buy any securities, nor will there be a sale of those securities in any state or other jurisdiction in which such an offer, offer or sale would be illegal prior to registration. or compliance with the securities laws of any such state or other jurisdiction.

About Ellington Housing Mortgage REIT

The Ellington Residential Mortgage REIT is a mortgage investment fund that specializes in the acquisition, investment and management of residential mortgage and real estate assets, with a primary focus on residential mortgage-backed securities for which principal and interest payments are guaranteed by a U.S. government agency or an enterprise sponsored by the US government. Ellington Residential Mortgage The REIT is managed and advised by Ellington Residential Mortgage Management LLC, a subsidiary of Ellington Management Group, LLC.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the safeguard provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Actual results may differ from our beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predicting future events. Forward-looking statements are not historical in nature and may be identified by words such as “believe”, “expect”, “anticipate”, “estimate”, “project”, “plan”, “continue”, “intend”, “should” , “Would like”, “could”, “purpose”, “purpose”, “will”, “may”, “seek” or similar expressions or their negative forms, or through references to strategy, plans or intentions. There is no guarantee that the offer discussed above will be completed on the terms described or at all, or that the net proceeds received by the Company will be used as indicated. The completion of the offer on the terms described and the use of the net proceeds received by the Company depends on a variety of possible events, factors and conditions, many of which are beyond the control of the Company and not all of them are known. this, including, but not limited to, the market conditions and conditions described in the Risk Factors section of the Company’s Form 10-K Annual Report for the year ended December 31, 2020, and updated to reflect the risk factors included in subsequent Company documents. under the Stock Exchange Act 1934, as amended, which can be accessed on the SEC’s website at www.sec.gov… We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

See the original version at businesswire.com: https://www.businesswire.com/news/home/20210614005837/en/

Contacts

Ellington Residential Mortgage REIT
JR Herlihy
(203) 409-3773
info@earnreit.com

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