Brief: Ellington Financial And Arlington Asset Investment Corp. Announce Definitive Merger Agreement

Ellington Financial

30/05/2023 12:44

May 30 (Reuters) - Arlington Asset Investment Corp
 AAIC.N :
    * ELLINGTON FINANCIAL AND ARLINGTON ASSET INVESTMENT CORP.
ANNOUNCE DEFINITIVE MERGER AGREEMENT
    * ARLINGTON ASSET INVESTMENT CORP - PROPOSED DEAL FOR $4.77
PER
ARLINGTON SHARE
    * ARLINGTON ASSET INVESTMENT - UPON CLOSING OF DEAL,
ELLINGTON
FINANCIAL STOCKHOLDERS ARE EXPECTED TO OWN ABOUT 85% OF COMBINED
CO'S STOCK
    * ARLINGTON ASSET INVESTMENT - EACH SHARE OF CO TO BE
CONVERTED
INTO 0.3619 SHARES OF ELLINGTON
    * ARLINGTON ASSET INVESTMENT CORP - STOCKHOLDERS WILL ALSO
RECEIVE
$3 MILLION IN CASH IN AGGREGATE
    * ARLINGTON ASSET INVESTMENT CORP - DEAL ANTICIPATED TO BE
ACCRETIVE TO ELLINGTON FINANCIAL'S EARNINGS IN 2023
    * ARLINGTON ASSET INVESTMENT - DEAL ANTICIPATED TO BE
ACCRETIVE TO
ELLINGTON FINANCIAL'S BOOK VALUE WITHIN ONE YEAR OF CLOSING
    * ARLINGTON ASSET INVESTMENT CORP - TRANSACTION IS EXPECTED
TO
CLOSE IN Q4 OF 2023

Source text for Eikon:  ID:nBw7BQVKHa 
Further company coverage:  AAIC.N 

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