Ellington Management Group

Ellington Management Group Provides Notice of Security Incident

Retrieved on: 
Friday, November 10, 2023

(“Ellington”) confirmed today that it detected a data incident on August 8, 2023, after which it issued notices about the incident to affected individuals and relevant agencies.

Key Points: 
  • (“Ellington”) confirmed today that it detected a data incident on August 8, 2023, after which it issued notices about the incident to affected individuals and relevant agencies.
  • What Ellington Management Group Is Doing.
  • Upon becoming aware of the incident, Ellington immediately worked with leading data privacy and security professionals to aid in its response and report the incident to relevant government agencies, federal law enforcement and affected individuals.
  • Ellington also implemented additional security protocols designed to protect and improve its network, email environment, and systems, and is currently assessing the entirety of its information security program.

Oportun and Ellington extend relationship with up to $70 million in new whole loan sales

Retrieved on: 
Thursday, October 19, 2023

Under the terms of the deal, expected to close in the near term, Oportun is expected to sell Ellington up to $70 million of personal loan production from Oportun over the next 12 months.

Key Points: 
  • Under the terms of the deal, expected to close in the near term, Oportun is expected to sell Ellington up to $70 million of personal loan production from Oportun over the next 12 months.
  • “This deal represents the strength of our long-term relationship with Ellington, with whom we have worked for many years to provide attractive returns in both whole loan and security investments,” said Jonathan Coblentz, Chief Financial Officer of Oportun.
  • “Through this transaction, Oportun is demonstrating both our ability to tap diverse sources of capital and expand access to our responsible and affordable credit products.”
    "We are proud of the relationship we have built with Oportun and are pleased with the returns their loans have delivered,” said Will Messmore of Ellington.
  • “With this latest transaction, we are excited to help Oportun expand financial inclusion while delivering the returns all our stakeholders expect.”

ETF Managers Group (ETFMG) Announces Closure of ETF

Retrieved on: 
Thursday, August 10, 2023

ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Sit Ultra Short ETF (VALT) based on an ongoing review of market demand.

Key Points: 
  • ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Sit Ultra Short ETF (VALT) based on an ongoing review of market demand.
  • Between now and August 25, 2023, VALT will increase its cash holdings in contemplation of liquidation, and will no longer seek to implement the Fund’s principal investment strategy.
  • Trading will be suspended on the NYSE Arca at the closing of the market on August 25, 2023.
  • Proceeds of the liquidation are scheduled to be sent to shareholders on or about August 29, 2023.

Greek Media Uncovers the Reality of the Situation Between Thrivest, Ellington, and Attica Bank

Retrieved on: 
Wednesday, August 2, 2023

ATHENS, Greece, Aug. 2, 2023 /PRNewswire/ -- Various legitimate sources have praised the Greek newspaper Kathimerini for publishing an article that impartially and objectively presents the history of Ellington Management Group's & Ellington Solutions' involvement with Attica Bank.

Key Points: 
  • ATHENS, Greece, Aug. 2, 2023 /PRNewswire/ -- Various legitimate sources have praised the Greek newspaper Kathimerini for publishing an article that impartially and objectively presents the history of Ellington Management Group's & Ellington Solutions' involvement with Attica Bank.
  • The article, amongst other things, mentions the existence of confidential agreements between Ellington and Thrivest Holdings.
  • Unlike other Greek media outlets that have been publishing inaccurate, and likely biased news articles since June 2023, Kathimerini's reporting on the matter has been refreshingly fair and factual.
  • Ellington expresses satisfaction with this reporting and remains committed to resolving the situation with all parties involved, but will not be providing further comments at this time.

Greek Media Uncovers the Reality of the Situation Between Thrivest, Ellington, and Attica Bank

Retrieved on: 
Wednesday, August 2, 2023

ATHENS, Greece, Aug. 2, 2023 /PRNewswire/ -- Various legitimate sources have praised the Greek newspaper Kathimerini for publishing an article that impartially and objectively presents the history of Ellington Management Group's & Ellington Solutions' involvement with Attica Bank.

Key Points: 
  • ATHENS, Greece, Aug. 2, 2023 /PRNewswire/ -- Various legitimate sources have praised the Greek newspaper Kathimerini for publishing an article that impartially and objectively presents the history of Ellington Management Group's & Ellington Solutions' involvement with Attica Bank.
  • The article, amongst other things, mentions the existence of confidential agreements between Ellington and Thrivest Holdings.
  • Unlike other Greek media outlets that have been publishing inaccurate, and likely biased news articles since June 2023, Kathimerini's reporting on the matter has been refreshingly fair and factual.
  • Ellington expresses satisfaction with this reporting and remains committed to resolving the situation with all parties involved, but will not be providing further comments at this time.

ETF Managers Group (ETFMG) Announces Closure of ETF

Retrieved on: 
Monday, July 3, 2023

ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Breakwave Sea Decarbonization Tech ETF (BSEA) based on an ongoing review of market demand.

Key Points: 
  • ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Breakwave Sea Decarbonization Tech ETF (BSEA) based on an ongoing review of market demand.
  • Effective immediately, BSEA will increase its cash holdings in contemplation of liquidation, will no longer accept creation orders, and will no longer seek to implement the Fund’s principal investment strategy.
  • Trading will be suspended on the NYSE Arca at the closing of the market on July 20, 2023.
  • Proceeds of the liquidation are scheduled to be sent to shareholders on or about July 24, 2023.

Ellington Financial and Great Ajax Corp. Announce Definitive Merger Agreement

Retrieved on: 
Monday, July 3, 2023

Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE: AJX) (“Great Ajax”), a real estate investment trust that invests primarily in residential mortgage loans, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Great Ajax.

Key Points: 
  • Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE: AJX) (“Great Ajax”), a real estate investment trust that invests primarily in residential mortgage loans, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Great Ajax.
  • Strong Financial Rationale: Ellington Financial expects to rotate out of selected lower-yielding Great Ajax assets and redeploy capital in higher-yielding strategies.
  • In connection with the proposed merger, Ellington Financial intends to file a registration statement on Form S-4 with the SEC that includes a Great Ajax proxy statement and an Ellington Financial prospectus.
  • Ellington Financial and Great Ajax and their respective directors and executive officers and certain other affiliates of Ellington Financial and Great Ajax may be deemed to be participants in the solicitation of proxies from Great Ajax stockholders in connection with the proposed merger.

ETF Managers Group (ETFMG) Announces Closure of ETF

Retrieved on: 
Thursday, June 22, 2023

ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Prime 2x Daily Junior Silver Miners ETF (SILX) based on an ongoing review of market demand.

Key Points: 
  • ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG Prime 2x Daily Junior Silver Miners ETF (SILX) based on an ongoing review of market demand.
  • Effective immediately, SILX will increase its cash holdings in contemplation of liquidation, will no longer accept creation orders, and will no longer seek to implement the Fund’s principal investment strategy.
  • Trading will be suspended on the NYSE Arca at the closing of the market on July 13, 2023.
  • Proceeds of the liquidation are scheduled to be sent to shareholders on or about July 17, 2023.

Ellington Financial and Arlington Asset Investment Corp. Announce Definitive Merger Agreement

Retrieved on: 
Tuesday, May 30, 2023

Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Arlington Asset Investment Corp. (NYSE: AAIC) (“Arlington”), a real estate investment trust that invests primarily in mortgage-related and other assets, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Arlington.

Key Points: 
  • Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Arlington Asset Investment Corp. (NYSE: AAIC) (“Arlington”), a real estate investment trust that invests primarily in mortgage-related and other assets, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Arlington.
  • Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C., will continue to manage the combined company.
  • In connection with the proposed merger, Ellington Financial intends to file a registration statement on Form S-4 with the SEC that will include a proxy statement of Arlington and a prospectus of Ellington Financial.
  • Ellington Financial and Arlington and their respective directors and executive officers and certain other affiliates of Ellington Financial and Arlington may be deemed to be participants in the solicitation of proxies from Arlington stockholders in connection with the proposed merger.

AM Best Affirms Credit Ratings of GuideWell Mutual Holding Corporation and Most of Its Operating Subsidiaries; Downgrades Credit Ratings of Triple-S Advantage, Inc.

Retrieved on: 
Thursday, May 11, 2023

AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Florida Combined Life Insurance Company, Inc.

Key Points: 
  • AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Florida Combined Life Insurance Company, Inc.
  • In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of GuideWell Mutual Holding Corporation (GuideWell).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.