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

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 25
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 Series B Preferred Stock and Series C Preferred Stock. In addition, although holders of Series B Preferred Stock and Series C Preferred Stock are entitled to limited voting rights, as described in “The Series B Preferred Stock — Voting Rights” and “The Series C Preferred Stock — Voting Rights,” with respect to such matters, subject to certain exceptions, the Series B Preferred Stock and Series C Preferred Stock will vote as a class with the Parity Stock upon which like voting rights have been conferred and are exercisable. As a result, generally, the voting rights of holders of Series B Preferred Stock and Series C Preferred Stock may be significantly diluted, and the holders of such other series of preferred stock that we may issue may be able to control or significantly influence the outcome of any vote. Future issuances and sales of Parity Stock, or the perception that such issuances and sales could occur, may cause prevailing market prices for the Series B Preferred Stock and Series C Preferred Stock and our common stock to decline and may adversely affect our ability to raise additional capital in the financial markets at times and prices favorable to us.

As a holder of Series B Preferred Stock and/or Series C Preferred Stock, you will have limited voting rights.

Your voting rights as a holder of Series B Preferred Stock and/or Series C Preferred Stock will be limited. Our common stock is the only class of our securities that currently carries full voting rights. Holders of Series B Preferred Stock and Series C Preferred Stock may vote together as a single class with holders of our Parity Stock having similar, exercisable voting rights, only (i) to elect two additional directors to our Board in the event that six full quarterly dividends (whether or not consecutive) payable on the Series B Preferred Stock or Series C Preferred Stock, as applicable, are in arrears, (ii) on amendments to our charter, including the articles supplementary designating the Series B Preferred Stock or Series C Preferred Stock, as applicable, that materially and adversely affect the rights, preferences, privileges and voting powers of the holders of Series B Preferred Stock or Series C Preferred Stock, as applicable and Parity Stock or (iii) to authorize or create, or increase the authorized or issued amount of, additional classes or series of Senior Stock. Other than the limited circumstances described in this prospectus supplement, holders of Series B Preferred Stock and Series C Preferred Stock will not have any voting rights. See “The Series B Preferred Stock — Voting Rights” and “The Series C Preferred Stock — Voting Rights” in this prospectus supplement.

The market price