Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 424B5
Source: 0001104659-25-046234
Chunk: 7

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 424B5
Chunk 7
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 related to such prevailing market prices or at negotiated prices or through a market maker other than on an exchange, or any other method permitted by applicable law. No sales agent will engage in any prohibited stabilizing transaction in connection with the offering.

Each sales agent will offer the shares of common stock subject to the terms and conditions of its respective distribution agency agreement on a daily basis or as otherwise agreed upon by us and such sales agent. We will designate the maximum number of shares of common stock to be sold through each sales agent on a daily basis or otherwise determine such maximum amount together with the sales agents. Subject to the terms and conditions of the distribution agency agreements, the sales agents will use their commercially reasonable efforts to sell on our behalf all of the designated shares of common stock. We may instruct the sales agents not to sell shares of common stock if the sales cannot be effected at or above the price designated by us in any such instruction. We or the sales agents may suspend the offering of shares of common stock being made through the sales agents under the distribution agency agreements upon proper notice to the other parties.

We will pay each sales agent commissions for its services in acting as sales agent. Each sales agent will be entitled to compensation equal to up to 1.25% of the gross sales price of all shares sold through it under the applicable distribution agency agreement. The remaining sales proceeds, after deducting any expenses payable by us and any transaction fees imposed by any governmental, regulatory or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale of such shares. We estimate that the total expenses associated with the offering payable by us, excluding compensation payable to the sales agents under the distribution agency agreements, will be approximately $200,000.

An applicable sales agent will provide written confirmation to us following the close of trading on the NYSE each day in which shares of common stock are sold by it for us under its distribution agency agreement.

Each confirmation will include the number of shares sold on that day, the net proceeds to us (excluding expenses and fees payable by us) and the compensation payable by us to such sales agent.

Settlement for sales of common stock will occur, unless the parties agree otherwise, on the second business day following the date on which any sales were made in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. Under the terms of the distribution agency agreements, we also may sell shares to an individual sales agent as principal for its own