Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 7:54 PM
|This Slide: #211 of 582|
Slide #211. Invesco Mortgage Capital Inc. — Preferred Stock Offering
Invesco Mortgage Capital Inc. (NYSE:IVR)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Invesco Mortgage Capital Inc. (the "Company") (NYSE: IVR) announced today that it has priced the public offering of 10,000,000 shares of its 7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $250 million, before deducting the underwriting discount and other estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of the Series C Preferred Stock solely to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on August 16, 2017. The Company intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "IVR PrC."
Invesco Mortgage Capital is a holding company and a real estate investment trust. Co. is primarily focused on investing in, financing and managing mortgage-backed securities and other mortgage related assets. Co. primarily invests in the following: residential mortgage-backed securities; commercial mortgage-backed securities; credit risk transfer securities; residential and commercial mortgage loans; and other real estate-related financing arrangements. Co. conducts its business through its wholly-owned subsidiary IAS Operating Partnership L.P. Co. is externally managed and advised by Invesco Advisers, Inc., Co.'s manager, an indirect wholly-owned subsidiary of Invesco Ltd.
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Sell (1.00 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com