Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
Chunk: 10

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 10
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 exchangeable for our common stock or preferred stock) and the indebtedness of our existing and future subsidiaries. (including our 8.875% Senior Notes due 2029 and 9.00% Senior Notes due 2029).

#### Dividends
Holders of shares of the Series B Preferred Stock are entitled to receive cumulative cash dividends on the Series B Preferred Stock when, as and if authorized by our Board and declared by us from, and including, the date of original issue, payable quarterly in arrears on or about March 31, June 30, September 30 and December 31 of each year, at the rate of 7.50% per annum of the $25.00 liquidation preference per share (equivalent to the fixed annual rate of $1.875 per share). Dividends on the Series B Preferred Stock will accrue whether or not (i) we have earnings, (ii) there are funds legally available for the payment of such dividends or (iii) such dividends are authorized or declared.

#### Liquidation Preference
If we liquidate, dissolve or wind up, subject to the preferential rights of any Senior Stock, holders of the Series B 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 any Junior Stock. The rights of holders of shares of the Series B Preferred Stock to receive their liquidation preference will be subject to the proportionate rights of any Parity Stock, and junior to the rights of any Senior Stock. Please see the section entitled “Description of the Preferred Stock — The Series B Preferred Stock — Liquidation Preference.”

#### Optional Redemption
We may, at our option, subject to certain procedural requirements, redeem the Series B 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 accrued and unpaid dividends (whether or not authorized or declared) to, but not including, the date of redemption. “Description of the Preferred Stock — The Series B Preferred Stock — Liquidation Preference.”

#### Special Optional Redemption
Upon the occurrence of a Change of Control, we may, at our option, redeem the Series B Preferred Stock, in whole or in part within 120 days after the first date on which such Change of Control occurred, by paying $25.00 per share