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Dynex Capital, 9.55% Cumul Convertible Preferred Stock B
Ticker Symbol: DXCPO* CUSIP: 26817Q308 Exchange: NNM
* NOTE: This security is no longer trading as of 5/20/2004
Security's Distribution is Suspended!
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Dynex Capital, Inc., Series B, 9.55% Cumulative Convertible Preferred Stock, issue price $24.50 per share. Two shares of preferred are convertible at any time at the holder's option into one share of common stock. The preferred shares are redeemable for common stock when the price of the common stock exceeds one half of the issue price of the preferred.
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Go to Parent Company's Record (DX)
Notes: May 19, 2004--Dynex Capital, Inc. announced today the final results of its exchange offer for shares of its Series A Cumulative Convertible Preferred Stock, Series B Cumulative Convertible Preferred Stock and Series C Cumulative Convertible Preferred Stock, which expired at 9:00AM Eastern Daylight Time on May 10, 2004. The exchange offer was the first step in a two-part recapitalization plan approved by the company's shareholders at special meetings held in April.
Based on a final count provided by Wachovia Bank, N.A., the exchange agent for the exchange offer, 8,890 shares of Series A preferred stock, 10,553 shares of Series B preferred stock and 8,584 shares of Series C preferred stock were tendered in exchange for $823,000 aggregate principal amount of the company's new 9.5% Senior Notes due 2007, effective May 14, 2004. The 9.5% Senior Notes are not listed for trading on a national exchange. Dynex Capital, Inc. also announced today the completion of the second and final step of its recapitalization transaction. Effective May 19, 2004, all of the shares of the company's Series A preferred stock, Series B preferred stock and Series C preferred stock not tendered and accepted in the exchange offer were automatically converted into shares of the company's new Series D Cumulative Convertible Preferred Stock and shares of the company's common stock, plus, if applicable, cash in lieu of fractional shares. Wachovia Bank, N.A., the company's transfer agent, will promptly deliver the shares of Series D preferred stock and common stock issued in the conversion to former holders of the Series A preferred stock, Series B preferred stock and Series C preferred stock.
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Market Value $33.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 4551 Cox Road, Suite 300, Glen Allen, VA 23060 |
| Main Phone Number |
804-217-5800 |
| Fax Number |
804-217-5860 |
| Investor Contact
Kathy Fern
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804-217-5800
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Toll Free Phone Number |
Unknown |
| PRS - Thomas H. Potts |
CFO - Stephen J. Benedetti |
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