ARMOUR Residential REIT Offers 40M Shares Of Common Stock

Posted by Orb Staff on July 10, 2012 No Comments
Categories : Residential Mortgage

11947_armour ARMOUR Residential REIT Offers 40M Shares Of Common Stock Vero Beach, Fla.-based ARMOUR Residential REIT Inc. has commenced an underwritten public offering of 40 million shares of common stock. ARMOUR expects to grant the underwriters a 30-day option to purchase up to 6 million additional shares of common stock.

The company intends to use the net proceeds of the offering to acquire additional agency securities as market conditions warrant and for general corporate purposes. ARMOUR invests in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage-backed securities issued by or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises.

Deutsche Bank Securities, BofA Merrill Lynch and Citigroup are lead joint book-running managers of the offering, and Barclays and Credit Suisse are joint book-running managers.

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