SEC Contract Filing

Filing Date: 2018-09-04

Document Content:
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<TYPE>EX-10.29.1
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<FILENAME>d607832dex10291.htm
<DESCRIPTION>EXHIBIT 10.29.1
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<TITLE>Exhibit 10.29.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.29.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DYNEX CAPITAL, INC. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(a Virginia
corporation) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AMENDMENT NO. 1 TO </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>EQUITY DISTRIBUTION AGREEMENT </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">September&nbsp;4, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladenburg
Thalmann&nbsp;&amp; Co. Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">277 Park Avenue, 26<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10172 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">JonesTrading Institutional Services
LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">757 Third Avenue, 23rd Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10017 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment
No.&nbsp;1, dated September&nbsp;4, 2018 (the &#147;<I><U>Amendment</U></I>&#148;), is to the Equity Distribution Agreement, dated November&nbsp;21, 2016 (the &#147;<I><U>Equity Distribution Agreement</U></I>&#148;), by and among Dynex Capital,
Inc., a Virginia corporation (the &#147;<I><U>Company</U></I>&#148;), Ladenburg Thalmann&nbsp;&amp; Co. Inc. (&#147;<I><U>Ladenburg</U></I>&#148;), and JonesTrading Institutional Services LLC (&#147;<I><U>JonesTrading</U></I>&#148;, together with
Ladenburg, the &#147;<I><U>Agents</U></I>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company has sold an aggregate of $33,099,644 of Preferred Stock pursuant
to the Equity Distribution Agreement prior to the date hereof under the Company&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> <FONT STYLE="white-space:nowrap">(333-200859);</FONT> and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company, Ladenburg and JonesTrading desire to amend the Equity Distribution Agreement to reflect the effectiveness of a new
registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> of the Company and to increase the Maximum Amount (as defined in the Equity Distribution Agreement) from $50,000,000 to $83,099,644. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the mutual promises contained in this Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Amendment, intending to be legally bound, hereby amend the Equity Distribution Agreement and agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments</U>. Commencing as of the date hereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(A) all references in the Equity Distribution Agreement to the &#147;Registration Statement&#148; shall refer to the registration statement on
Form <FONT STYLE="white-space:nowrap">S-3</FONT> (No. <FONT STYLE="white-space:nowrap">333-222354)</FONT> filed with the Commission on December&nbsp;29, 2017; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(B) the &#147;Maximum Amount&#148; shall refer to $83,099,644, which includes an aggregate of $33,099,644 of Preferred Stock the Company has
sold pursuant to the Equity Distribution Agreement prior to the date hereof under the Company&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> <FONT STYLE="white-space:nowrap">(333-200859);</FONT> and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(C) the following sentence shall be added to the end of Section&nbsp;1 of the Equity
Distribution Agreement: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;Notwithstanding anything to the contrary in this Agreement, in no event shall the Company sell more than
5,700,000 Series A Shares or 4,750,000 Series B Shares pursuant to this Agreement, which includes an aggregate of 1,358,999 Series B Shares sold prior to the date hereof under the Company&#146;s registration statement on Form <FONT
STYLE="white-space:nowrap">S-3</FONT> <FONT STYLE="white-space:nowrap">(333-200859).&#148;</FONT> </P> <P STYLE="margin-top:12pt; m