Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 6:26 PM
|This Slide: #232 of 573|
Slide #232. Chimera Investment Corporation — Preferred Stock Offering
Chimera Investment Corporation (NYSE:CIM)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Chimera Investment Corporation (NYSE:CIM) (the "Company") today announced the pricing of its underwritten public offering of 12,000,000 shares of its 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $300 million, before deducting the underwriting discount and other estimated offering expenses. The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "CIM PRB." The offering is expected to close on February 27, 2017, subject to customary closing conditions. The Company has granted the underwriters an option for 30 days to purchase up to an additional 1,800,000 shares of the Series B Preferred Stock to cover over-allotments, if any.
Chimera Investment is a real estate investment trust engaged in investing in mortgage assets. Co.'s investment portfolio includes: Residential Mortgage Loans, which invests in residential mortgage loans through secondary market purchases from banks, non-bank financial institutions, and federally chartered corporations; Residential Mortgage-Backed Securities, which Co. invests in mortgage pass-through certificates issued or guaranteed by the Government National Mortgage Association, Federal National Mortgage Association or Federal Home Loan Mortgage Corporation; Agency mortgage-backed securities; and Other Real-Estate Related Assets.
Open the CIM Page at Preferred Stock Channel »
Free CIM Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
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