Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
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Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
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TABLE OF CONTENTS

Filed Pursuant to Rule 424(b)(5) Registration No. 333-289614 PROSPECTUS SUPPLEMENT
(To Prospectus Dated August 14, 2025) $100,000,000 7.50% Series B Cumulative Redeemable Preferred Stock and/or 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock We have entered into a distribution agreement, dated August 15, 2025 (the “Distribution Agreement”), with BTIG, LLC and JonesTrading Institutional Services LLC, each referred to herein as a sales agent and, collectively, the sales agents, relating to shares of our 7.50% Series B Cumulative Redeemable Preferred Stock, $0.01 par value per share (the “Series B Preferred Stock”), and our 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share (the “Series C Preferred Stock” and together with the Series B Preferred Stock, the “Preferred Stock”), offered by this prospectus supplement and the accompanying prospectus, pursuant to an “at the market” offering program. As of the date of this prospectus supplement, there are 8,000,000 outstanding shares of the Series B Preferred Stock and 11,000,000 outstanding shares of the Series C Preferred Stock. The Series B Preferred Stock and Series C Preferred Stock offered hereby will be fungible with and will have terms identical to, and the same CUSIP numbers as, the existing Series B Preferred Stock and Series C Preferred Stock, respectively. In accordance with the terms of the Distribution Agreement, we may offer and sell shares of the Preferred Stock having a maximum aggregate gross sales price of up to $100,000,000 from time to time through the sales agents and any additional agents appointed under distribution agreements in the future. The Series B Preferred Stock and Series C Preferred Stock have not been rated. The Series B Preferred Stock is listed on the New York Stock Exchange (the “NYSE”), under the symbol “MFAPrB.” The last reported sale price of the Series B Preferred Stock on the NYSE on August 14, 2025 was $21.67 per share. The Series C Preferred Stock is listed on the NYSE under the symbol “MFAPrC.” The last reported sale price of the Series C Preferred Stock on the NYSE on August 14, 2025 was $24.