Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079255
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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) $300,000,000 Common Stock We have entered into a distribution agreement, dated August 15, 2025 (the “Distribution Agreement”), with Goldman Sachs & Co. LLC, Barclays Capital Inc., BTIG, LLC, Citizens JMP Securities, LLC, Deutsche Bank Securities Inc., Janney Montgomery Scott LLC, JonesTrading Institutional Services LLC, Keefe, Bruyette & Woods, Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC, each referred to herein as a sales agent and, collectively, the sales agents, relating to shares of our common stock, par value $0.01 per share, or our common stock, offered by this prospectus supplement and the accompanying prospectus, pursuant to an “at the market” offering program. In accordance with the terms of the Distribution Agreement, we may offer and sell shares of our common stock having an aggregate gross sales price of up to $300,000,000 from time to time through the sales agents and any additional agents appointed under distribution agreements in the future. Concurrently with the entry into the Distribution Agreement, we terminated our prior distribution agreement dated February 29, 2024 (the “Prior Distribution Agreement”). At the time of such termination, we had not sold any shares of common stock under the Prior Distribution Agreement. Our common stock is listed on the New York Stock Exchange, or the NYSE, under the symbol “MFA.” The last reported sale price of our common stock on the NYSE on August 14, 2025 was $9.72 per share. Sales of the shares, if any, may be made in negotiated transactions or will be made by means of ordinary brokers’ transactions on the NYSE at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices or through a market maker other than on an exchange, directly on or through any other existing trading market or by any other method permitted by law, including but not limited to in privately negotiated transactions and in block trades. The sales agents will be entitled to compensation of 1.0% of the gross sales price per share for any shares of common stock sold under the Distribution Agreement. Under the terms of the Distribution Agreement, we may also sell our common stock to a sales agent