Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079255
Chunk: 11

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 11
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 proceeds from sales of the securities offered hereby for general corporate purposes, which may include investing in additional residential mortgage-related assets, including but not limited to, residential whole loans, BPLs, MBS and other mortgage-related investments, and for working capital, which may include, among other things, the repayment of indebtedness.

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TABLE OF CONTENTS

### PLAN OF DISTRIBUTION
We have entered into a distribution agreement, dated August 15, 2025 (the “Distribution Agreement”), with the sales agents under which we may issue and sell shares of our common stock having an aggregate gross sales price of up to $300,000,000 from time to time through the sales agents acting as sales agents or directly to the sales agents acting as principals for the offer and sale of shares of our common stock. Sales of the shares, if any, may be made in negotiated transactions or will be made by means of ordinary brokers’ transactions on the NYSE at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices or through a market maker other than on an exchange, directly on or through any other existing trading market or by any other method permitted by law, including but not limited to in privately negotiated transactions and in block trades. No sales agent will engage in any prohibited stabilizing transaction in connection with the offering. In no event will the aggregate number of shares of our common stock sold through the sales agents under the Distribution Agreement have an aggregate gross sales price in excess of $300,000,000.

Each sales agent will offer the shares of common stock subject to the terms and conditions of the Distribution Agreement on a daily basis or as otherwise agreed upon by us and such sales agent. We will designate the maximum amount of shares of common stock to be sold through each sales agent on a daily basis or otherwise determine such maximum amount together with the sales agents. Subject to the terms and conditions of the Distribution Agreement, the sales agents will use their commercially reasonable efforts to sell on our behalf all of the designated shares of common stock. We may instruct the sales agents not to sell shares of common stock if the sales cannot be effected at or above the price designated by us in any such instruction. We or the sales agents may suspend the offering of shares of common stock being made through the sales agents under the Distribution Agreement upon proper notice to the other parties. None of the sales agents are required to sell any specific number or dollar amount of shares of our common stock,