Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:26 AM
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Slide #516. ARMOUR Residential REIT, Inc. — Preferred Stock Offering
ARMOUR Residential REIT, Inc. (NYSE:ARR)
Series B Cumulative Redeemable Preferred Stock (ARR.PRB)
Preferred Stock Offering Details:
ARMOUR Residential REIT, Inc. announced that it is commencing an underwritten public offering of its Series B Cumulative Redeemable Preferred Stock. ARMOUR expects to grant the underwriters a 30-day option to purchase additional shares to cover overallotments, if any. The Company has applied to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "ARR PrB."
ARMOUR Residential REIT is a real estate investment trust. Co. is managed by ARMOUR Capital Management LP, an investment advisor. Co. invests in mortgage backed securities (MBS), which are issued or guaranteed by a U.S. Government-sponsored entity or a government agency (collectively, Agency Securities). Co.'s Agency Securities consist primarily of fixed rate loans. The remaining are either backed by hybrid adjustable rate or adjustable rate loans. From time to time Co. may also invest in Credit Risk and Non-Agency Securities, Interest-Only Securities, U.S. Treasury Securities and money market instruments.
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