San Diego-based California Investment Fund LLC now owns 5% ofDynex Capital Inc. common stock, or 572,178 shares of the company.Dynex is aREIT currently traded on Nasdaq.
According to the terms of the agreement, California Investmentwill have exclusive right to negotiate the final purchase of Dynexfor three weeks. During this period, the San Diego company willlook for satisfactory financing to complete the deal.
The two companies must also negotiate a merger agreement andother conditions before the sale closes.
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