Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
Chunk: 15

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 15
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 Stock will accumulate whether or not (i) the terms and provisions of any laws or agreements referred to in the section entitled “Description of the Preferred Stock — The Series C Preferred Stock — Dividends” at any time prohibit current payment of dividends, (ii) we have earnings, (iii) there are funds legally available for the payment of such dividends and/or (iv) such dividends are declared.

#### Liquidation Preference
If we liquidate, dissolve or wind up, subject to the preferential rights of any Senior Stock, holders of Series C Preferred Stock will have the right to receive $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the payment date, before any payment is made to the holders of Junior Stock. Please see the section entitled “Description of the Preferred Stock — The Series C Preferred Stock — Liquidation Preference.”

#### Optional Redemption
We may, at our option, subject to certain procedural requirements, redeem the Series C Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the redemption date, without interest. Please see the section entitled “Description of the Preferred Stock — The Series C Preferred Stock — Redemption — Optional Redemption.”

#### Special Optional Redemption
Upon the occurrence of a Change of Control, we may, at our option, subject to certain procedural requirements, redeem the Series C Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the redemption date. If, prior to the Change of Control Conversion Date, we have provided notice of our election to redeem some or all of the shares of Series C Preferred Stock (whether pursuant to our optional redemption right described above or this special optional redemption right), the holders of Series C Preferred Stock will

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not have the conversion right described below under “— Conversion Rights” with respect to the shares of Series C Preferred Stock called for redemption. Please see the section entitled “Description of the Preferred Stock — The Series C Preferred Stock — Redemption” in this prospectus supplement.

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