Capstead Announces Pricing Of Public Offering Of Common Stock

Posted by Orb Staff on September 27, 2007 No Comments
Categories : Commercial Mortgage

Capstead Mortgage Corp. has priced an underwritten public offering of 10 million shares of its common stock to the public at $9.75 per share. Capstead has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares of common stock to cover over-allotments, if any.

Capstead intends to use the net proceeds from this offering to finance purchases of additional adjustable-rate mortgage agency securities, on a leveraged basis, and for general corporate purposes.

Capstead expects to close the transaction on or around Oct. 2, subject to the satisfaction of customary closing conditions.

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