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Annaly Capital Management, Inc. Announces Pricing of Public Offering of Series J Fixed-Rate Cumulative Redeemable Preferred Stock
NEW YORK, July 31, 2025--Annaly Capital Management, Inc. Announces Pricing of Public Offering of Series J Fixed-Rate Cumulative Redeemable Preferred Stock
About this update from Annaly Capital Management Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1892,"height":321,"url":"https://media.zenfs.com/en/business-wire.com/ae0410b18da2e00da815e15066175ded"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/.xT5nydAfpFM.bcYVMvfJg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTE2MztjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/ae0410b18da2e00da815e15066175ded","width":960,"height":163},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/bvuNebXuAVE1xssFmLES9Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD00MDg7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/ae0410b18da2e00da815e15066175ded","width":1200,"height":204}},"lazy":false},{"type":"text","content":"NEW YORK, July 31, 2025--(BUSINESS WIRE)--Annaly Capital Management, Inc. (NYSE:NLY), a Maryland corporation, ("Annaly" or the "Company") today announced that it has priced a public offering of an original issuance of 10,000,000 shares of its 8.875% Series J Fixed-Rate Cumulative Redeemable Preferred Stock (the "Series J Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $250 million before deducting the underwriting discount and other estimated offering expenses. The offering is subject to customary closing conditions and is expected to close on or about August 7, 2025. The Company intends to apply to list the Series J Preferred Stock on the New York Stock Exchange under the symbol "NLY.J."","length":785,"tagName":"p"},{"type":"text","content":"In connection with the offering, Annaly has granted the underwriters a thirty-day option to purchase up to an additional 1,500,000 shares of Series J Preferred Stock solely to cover over-allotments.","length":198,"tagName":"p"},{"type":"text","content":"Annaly intends to use the net proceeds of this offering to acquire targeted assets under its capital allocation policy. These investments include, without limitation, Agency MBS pools, to-be-announced forward contracts, mortgage servicing rights and residential credit assets (including residential mortgage loans). It also intends to use the net proceeds of this offering for general corporate purposes.","length":404,"tagName":"p"},{"type":"text","content":"Morgan Stanley & Co. LLC, BofA Securities, Inc., Goldman Sachs &...