Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wed, April 24, 2:22 AM

Slide #276. PennyMac Mortgage Investment Trust Preferred Stock Offering

Company: PennyMac Mortgage Investment Trust (NYSE:PMT)
Date announced: 3/2/2017
Shares Offered: 4,600,000
Date of Pricing: 3/2/2017
Price Per Share: $25.00
Preferred Stock Offering Details: PennyMac Mortgage Investment Trust (NYSE:PMT) (the "Company") today announced the pricing of its underwritten public offering of 4,600,000 of its 8.125 percent Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (the "Series A Preferred Shares"), liquidation preference $25.00 per share, for gross proceeds of $115 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to apply to list the Series A Preferred Shares on the New York Stock Exchange under the symbol "PMT PrA." The offering is expected to close on March 9, 2017, subject to customary closing conditions. The Company has granted the underwriters an option for 30 days to purchase up to an additional 690,000 Series A Preferred Shares to cover over-allotments, if any.

PennyMac Mortgage Investment Trust is a holding company. Through its subsidiaries, Co. is a finance company that invests primarily in mortgage-related assets. Co. conducts substantially all of its operations, and makes substantially all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. Co.'s business includes three segments: credit sensitive strategies, which includes Co.'s investments in credit risk transfer; interest rate sensitive strategies, which includes Co.'s investments in mortgage servicing rights; and correspondent production, which represents Co.'s operations aimed at serving as an intermediary between lenders and the capital markets.


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Pennymac Mortgage Investment Trust
Number of ETFs Holding PMT: 
48 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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Preferred Stock Offerings - Slide 276 of 620 |

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