Bethesda, Md.-based American Capital Mortgage Investment Corp. has announced it priced a public offering of 11 million shares of common stock for total expected gross proceeds of approximately $253 million before expenses.
In connection with the offering, the company has granted the underwriters an option for 30 days to purchase up to an additional 1.65 million shares of common stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on May 30.
The company expects to use the net proceeds from this offering to invest, as market conditions warrant, in its targeted assets, which include agency mortgage investments, non-agency mortgage investments and other mortgage-related investments.
Citigroup, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities and UBS Securities LLC are joint book-running managers for the offering. Barclays Capital Inc. is the lead manager for the offering. Wunderlich Securities is the co-manager for the offering.