Ellington Financial LLC, a specialty finance company that invests in RMBS and derivatives, announced updated terms for its IPO on Thursday. The Old Greenwich, CT-based company plans to raise $104 million by offering 4.5 million ADSs at a price range of $22-$24. At the mid-point of the proposed range, Ellington Financial will command a market value of $379 million. Ellington Financial, which was founded in 2007 and booked $52 million in sales last year, plans to list on the NYSE under the symbol EFC. It had originally attempted to complete a $200 million IPO in December before postponing the deal due to market conditions. Deutsche Bank Securities is the lead underwriter on the deal, for which updated timing was not disclosed.
