8-K - Ellington Credit Company | StockGist

AI Analysis

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Ellington Credit Company entered into an underwriting agreement on March 25, 2026, for the issuance and sale of $50 million aggregate principal amount of 8.50% notes due 2031, with an option for underwriters to purchase up to an additional $7.5 million. The net proceeds will be used for general corporate purposes, including funding asset purchases and repaying short-term borrowings under reverse repurchase agreements.

Key Takeaways

1Entered underwriting agreement on March 25, 2026, with Piper Sandler & Co. as representative

2Issuing $50 million 8.50% Notes due 2031 (Firm Notes)

3Underwriters option for additional $7.5 million Notes within 30 days

4Closing expected March 30, 2026, subject to customary conditions

5Notes to list on NYSE under symbol ELLA within 30 days

6Rated BBB by Egan-Jones Ratings Company

Current Report Details

Event Type

Material Agreement

Regulation Fd

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

Entry into a Material Definitive Agreement. On March 25, 2026 (the "Effective Date", Ellington Credit Company (the “Fund”) entered into an underwriting agreemen

Material Agreement

$50.0M$7.5M

7.01

shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K. Item 9.01 Financial Statements and Exhibits. (d) E

Regulation Fd

Transaction Details

Material Agreement

Agreement: Underwriting Agreement
Parties: Ellington Credit Company, Ellington Credit Company Management LLC, Ellington Credit Company Administration LLC, Piper Sandler & Co. as representative of the Underwriters

•$50 million aggregate principal amount of 8.50% notes due 2031
•Underwriters option to purchase up to additional $7.5 million
•Closing expected March 30, 2026 subject to customary closing conditions
•Customary representations, warranties, agreements, and indemnification obligations

Debt / Financing

Instrument: 8.50% Notes due 2031
Principal: $50 million
Rate: 8.50%
Maturity: 2031
Use of Proceeds: general corporate purposes, including funding purchases of additional assets and repaying short-term borrowings under reverse repurchase agreements

Exhibits (4)

1.1

EX-1.1

8-K

99.1

EX-99.1

99.2

EX-99.2