Dynex greenshoe exercised, ups 7.625% preferreds to $56.25 million

By Tali David

Minneapolis, April 19 - Underwriters for Dynex Capital Inc.'s 7.625% series B cumulative redeemable preferred stock offering partially exercised their over-allotment option, adding an additional 250,000 shares, or $6.25 million, according to a press release.

The company priced $50 million of the $25-par preferreds on April 11.

J.P Morgan Securities LLC and Keefe, Bruyette & Woods are the joint bookrunners.

Proceeds will be used to acquire additional investments and for general corporate purposes, which may include the repayment of maturing debt, capital expenditures and working capital.

The company is a Glen Allen, Va.-based real estate investment trust that invests in mortgage assets.

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