Ellington Residential Mortgage REIT, a mortgage REIT that invests in Agency RMBS and non-Agency RMBS, filed on Monday with the SEC to raise up to $100 million in an initial public offering. The company was formed through a strategic venture between affiliates of 2010 IPO Ellington Financial (EFC) and a group of funds managed by an affiliate of Blackstone.
The Old Greenwich, CT-based company, which was founded in 2012 and commenced operations on September 25, 2012, plans to list on the NYSE under the symbol EARN. Credit Suisse, Deutsche Bank, Citi and UBS are the joint bookrunners on the deal. No pricing terms were disclosed.
