Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
Chunk: 19

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 19
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. Additional risks and uncertainties not presently known to us or that we currently deem immaterial also may impair our business operations. If certain of the risks described in the risk factors incorporated by reference herein actually occur, our business, results of operations and financial condition could suffer. In that event, the trading prices of the Preferred Stock could decline, and you may lose all or part of your investment.

Risks Relating to the Preferred Stock and this Offering

The Series B Preferred Stock and Series C Preferred Stock rank junior to our existing and future indebtedness and any Senior Stock we may issue in the future, and your interests could be diluted by the issuance of additional shares of preferred stock and by other transactions.

The Series B Preferred Stock and Series C Preferred Stock rank junior to all of our existing and future indebtedness and any Senior Stock we may issue in the future and to other non-equity claims on us and our assets available to satisfy claims against us, including claims in bankruptcy, liquidation or similar proceedings. In the event of our bankruptcy, liquidation or dissolution or the winding-up of our affairs, our assets will be available to pay obligations on the Series B Preferred Stock and Series C Preferred Stock only after all of our indebtedness and other liabilities have been paid in full. In addition, the Preferred Stock would effectively rank junior to all indebtedness and other liabilities of any existing or future subsidiaries. Such subsidiaries are or would be separate legal entities and have or will have no legal obligation to pay any amounts to us in respect of dividends due on the Series B Preferred Stock and Series C Preferred Stock. If we are forced to liquidate our assets to pay our creditors, we may not have sufficient assets to pay amounts due on any or all of the Series B Preferred Stock and Series C Preferred Stock then outstanding. At June 30, 2025, we had approximately $9.9 billion of indebtedness and other liabilities ranking senior to the Series B Preferred Stock and Series C Preferred Stock. In addition, we may in the future incur substantial amounts of debt and other obligations that will rank senior to the Series B Preferred Stock and Series C Preferred Stock.

Our charter provides that the total number of shares of stock of all classes which we have the authority to issue is one billion (1,000,000,000) shares of capital stock, par value $0.01 per share. As of the date of this prospectus supplement we have outstanding 8,000,000 shares of Series B Preferred Stock and 11,000,000 shares of Series C