Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, March 29, 7:25 AM
This Slide: #151 of 619 |
Slide #151. AGNC Investment Corp. — Preferred Stock Offering
Company:
AGNC Investment Corp. (NASDAQ:AGNC)
Date announced:
9/26/2019
Shares Offered:
14,000,000
Date of Pricing:
9/26/2019
Price Per Share:
$25.00
Preferred Stock Offering Details:
AGNC Investment Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that it has priced a public offering of 14,000,000 depositary shares with a liquidation preference of $25.00 per share (the "Depositary Shares"), for gross proceeds of $350 million before deducting underwriting discounts and other estimated offering expenses. Each Depositary Share represents a 1/1,000th interest in a share of the Company's 6.50% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock"). In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 2,100,000 Depositary Shares. The Company intends to apply to list the Depositary Shares on The Nasdaq Global Select Market under the symbol "AGNCO." The offering is subject to customary closing conditions and is expected to close on or about October 3, 2019.
AGNC Investment is a real estate investment trust. Co. invests in Agency residential mortgage-backed securities, which consist of residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (together with Fannie Mae, GSEs), or by a U.S. Government agency, such as the Government National Mortgage Association. Co. also invests in other assets related to the housing, mortgage or real estate markets that are not guaranteed by a GSE or U.S. Government agency.
Preferreds: AGNCN, AGNCM, AGNCO, AGNCP, AGNCL
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Buy (2.92 out of 4) 28th percentile
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