Ellington Financial Announces Intended Corporate Conversion
Ellington Financial LLC (NYSE:EFC) (“Ellington Financial” or the “Company”) announced today that it intends to convert from a
Delaware limited liability company to a Delaware corporation. The conversion is expected to be completed on or about March 1,
2019. Because the Company has already elected to be treated as a corporation for U.S. federal income tax purposes effective January
1, 2019, no material tax or financial changes are expected as a result of the state law conversion. As announced on February 13,
2019, the Company intends to elect to be taxed as a real estate investment trust commencing with its taxable year ending December
31, 2019.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Actual results may
differ from the Company's beliefs, expectations, estimates, and projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be
identified by words such as "believe," "expect," "anticipate," "estimate," "project," "plan," "continue," "intend," "should,"
"would," "could," "goal," "objective," "will," "may," "seek," or similar expressions or their negative forms, or by references to
strategy, plans, or intentions. Examples of forward-looking statements in this press release include, without limitation,
statements regarding the Company’s planned REIT election and the consequences of the planned state law conversion. The Company's
results can fluctuate from month to month and from quarter to quarter depending on a variety of factors, some of which are beyond
the Company's control and/or are difficult to predict, including, without limitation, changes in interest rates and the market
value of the Company's securities, changes in mortgage default rates and prepayment rates, the Company's ability to borrow to
finance its assets, changes in government regulations affecting the Company's business, the Company's ability to maintain its
exclusion from registration under the Investment Company Act of 1940, the Company’s ability to qualify and maintain its
qualification as a real estate investment trust, or "REIT," and other changes in market conditions and economic trends.
Furthermore, forward-looking statements are subject to risks and uncertainties, including, among other things, those described
under Item 1A of the Company's Annual Report on Form 10-K filed on March 15, 2018 which can be accessed through the
Company's website at
www.ellingtonfinancial.com or at the SEC's website (www.sec.gov).
Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected or implied may be
described from time to time in reports the Company's files with the SEC, including reports on Forms 10-Q, 10-K and 8-K. The Company
undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events,
or otherwise.
About Ellington Financial
Ellington Financial invests in a diverse array of real-estate-related and other financial assets, including residential and
commercial mortgage-backed securities, residential and commercial mortgage loans, consumer loans and asset-backed securities backed
by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan
origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington
Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.
Investors:
Ellington Financial
Investor Relations, 203-409-3575
info@ellingtonfinancial.com
or
Media:
Gasthalter & Co., for Ellington Financial
Amanda Klein / Kevin FitzGerald, 212-257-4170
ellington@gasthalter.com
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