MBS investor Ellington Financial priced its IPO of 4,500,000 common shares representing limited liability company interests at a price of $22.50 per share, according to a release from the specialty finance company.

The gross proceeds of the IPO are expected to be $101.25 million, assuming the underwriters' over-allotment option is not exercised. Ellington Financial intends to use a considerable part of the offering's net proceeds to buy non-agency and agency RMBS and other targeted assets, such derivatives.

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