DYNEX CAPITAL INC 8-K

What Happened

• On January 27, 2026, Dynex Capital, Inc. (DX) filed an 8-K announcing Amendment No. 8 to its distribution agreement with its sales agents, updating its at‑the‑market (ATM) equity program. The amendment increases the number of shares available under the agreement by 60,000,000 to a total of 221,292,973 shares; 67,354,187 of those shares remain available for issuance. The shares will be offered pursuant to the company’s Form S-3 registration (File No. 333-289004), and a prospectus supplement dated January 27, 2026 was filed in connection with the offering.

Key Details

• Amendment date: January 27, 2026 (Amendment No. 8).
• Increase: +60,000,000 shares; New total available under the agreement: 221,292,973 shares.
• Remaining available to issue: 67,354,187 shares.
• Sales Agents named include BTIG, Citizens JMP, JonesTrading, J.P. Morgan, Keefe Bruyette & Woods, RBC Capital Markets, UBS Securities, and Wells Fargo Securities.
• Legal and tax opinions from Morrison & Foerster LLP were filed as exhibits related to the legality of the common stock and certain U.S. federal income tax matters.

Why It Matters

• This amendment gives Dynex flexibility to raise equity capital over time through its ATM program, which can be used for operations, investments, or balance‑sheet management. For investors, the availability of additional shares means potential dilution if the company sells shares into the market. The actual impact depends on if, when, and how many shares the company elects to sell and at what prices.