Dynex Capital updates at-the-market agreement
Dynex Capital, Inc. entered into Amendment No. 9 to its existing common stock distribution agreement on April 28, 2026.
Sentiment and the balance of points
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Form Type
8-K
Rhea-AI Filing Summary
Dynex Capital, Inc. entered into Amendment No. 9 to its existing common stock distribution agreement on April 28, 2026. The agreement allows shares of common stock to be offered and sold through designated sales agents as "at the market offerings" under Rule 415(a)(4).
Amendment No. 9 updates the definition of agents to add Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as additional sales agents alongside the existing firms. The company has paid and expects to pay customary fees and commissions for services provided by these sales agents and their affiliates.
8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Amendment No. 9 date: April 28, 2026
Series C preferred dividend rate: 6.900%
2 metrics
Amendment No. 9 date
April 28, 2026
Date Dynex Capital executed Amendment No. 9 to its distribution agreement
Series C preferred dividend rate
6.900%
Dividend rate on Dynex Capital’s Series C fixed-to-floating rate preferred stock
Key Terms
at the market offerings, distribution agreement, Sales Agents, Rule 415(a)(4), +1 more
5 terms
at the market offerings financial
"may be offered and sold through the Sales Agents in transactions that are deemed to be “at the market offerings”"
At-the-market offerings are a way for a company to raise cash by selling newly issued shares directly into the open market at the current trading price through a broker, rather than in a single large sale. Think of it like topping up a gas tank a little at a time at whatever the pump price is; it gives the company flexibility to raise money when conditions are favorable but can increase the number of shares outstanding and dilute existing investors, and frequent or large sales can put downward pressure on the stock price.
distribution agreement financial
"entered into amendment no. 9 to the distribution agreement, dated June 29, 2018"
A distribution agreement is a contract that lets one party sell, market or deliver another party’s products or services in specified places or channels, and spells out who handles pricing, inventory, delivery, payments and how long the arrangement lasts. For investors it matters because these deals determine how widely a product can reach customers, how quickly revenue can grow, what profit margin the company keeps, and what legal or operational risks the business assumes—think of it like a store deciding which wholesaler will stock and promote a product.
Sales Agents financial
"collectively the “Sales Agents” and each individually a “Sales Agent”"
Sales agents are individuals or firms that sell a company’s products or services on its behalf, often working on commission or under a sales agreement rather than as full-time employees. Investors care because agents affect how quickly and widely a product reaches customers, the cost of making sales, and revenue predictability—think of them as independent delivery drivers who expand a company’s reach without the fixed cost of hiring more staff.
Rule 415(a)(4) regulatory
"“at the market offerings” as defined in Rule 415(a)(4) under the Securities Act of 1933"
Rule 415(a)(4) is a U.S. Securities and Exchange Commission rule that lets a company add more securities to an already effective shelf registration, so those additional shares or bonds can be sold later without filing a completely new registration. For investors it matters because it gives the issuer the flexibility to raise cash quickly—like having an open credit line—while creating the possibility of dilution or changes in supply that can affect share price.
Emerging growth company regulatory
"Emerging growth company o"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Dynex Capital (DX) change in its distribution agreement?
Dynex Capital amended its existing common stock distribution agreement through Amendment No. 9. The change mainly updates the definition of sales agents, expanding the group of firms that can place its common stock in at-the-market offerings under Rule 415(a)(4) of the Securities Act.
Which new sales agents were added by Dynex Capital (DX) in Amendment No. 9?
Amendment No. 9 adds Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as sales agents. They join existing firms such as J.P. Morgan Securities, BTIG, Citizens JMP Securities, JonesTrading, Keefe, Bruyette & Woods, RBC Capital Markets, UBS, and Wells Fargo Securities.
What type of stock offerings does Dynex Capital (DX) use under this agreement?
The agreement permits at-the-market offerings of Dynex Capital’s common stock. These are transactions deemed “at the market offerings” under Rule 415(a)(4), allowing shares to be offered and sold through designated sales agents into the market over time as conditions allow.
When was Dynex Capital’s original distribution agreement signed and how many times amended?
Dynex Capital’s original distribution agreement was dated June 29, 2018. It has since been amended multiple times, with prior amendments on May 31, 2019, August 3, 2021, June 3, 2022, February 10, 2023, October 29, 2024, May 1, 2025, July 29, 2025, and January 27, 2026.
Does Dynex Capital (DX) pay fees to the sales agents under the amended agreement?
Yes. The disclosure states that the sales agents and their affiliates have provided, and may in the future provide, investment banking, brokerage, and other services. Dynex Capital has paid and expects to pay customary fees and commissions for these services under the amended distribution arrangement.
Where can investors find the full text of Dynex Capital’s Amendment No. 9?
The complete text of Amendment No. 9 is filed as Exhibit 10.1 to the current report. The company notes that its brief description is qualified in its entirety by reference to this exhibit, which is incorporated by reference in the disclosure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
