[ad_1]
The REITs said they intend to continue to work together on mortgage loan opportunities and will remain joint venture partners on securitization transactions.
Additionally, Ellington has agreed to pay $16 million to Great Ajax for the purchase of 1.67 million shares of Great Ajax common stock at a per-share price of $6.60. This sum is divided into a $5 million cash payment and an $11 million payment.
Ellington now holds a 6.1% stake in Great Ajax, and an affiliate of the external manager of Ellington owned 273,983 shares of Great Ajax common stock as of June 30.
The announcement comes after Ellington entered a definite merger agreement with Arlington Asset Investment. The deal will form a combined company with an equity capital base of over $1.5 billion.
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
[ad_2]
Source link
