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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sun, August 14, 9:51 PM
| This Slide: #562 of 582 |
Slide #562. AG Mortgage Investment Trust, Inc. — Preferred Stock Offering
Company:
AG Mortgage Investment Trust, Inc. (NYSE:MITT)
Date announced:
9/19/2012
$Amount Offered:
$100,000,000
Date of Pricing:
9/20/2012
Price Per Share:
$25
Preferred Stock Offering Details:
AG Mortgage Investment Trust, Inc. announced that it intends to make a public offering of shares of an original issuance of Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"). The Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Stock to cover any overallotments. The Company also intends to apply to list the Series B Preferred Stock on the New York Stock Exchange. --updated 9/20/12 -- AG Mortgage Investment Trust, Inc. announced that it has priced the public offering of 4,000,000 shares of its 8.00% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"), for gross proceeds of $100 million before deducting the underwriting discount and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of the Series B Preferred Stock to cover over-allotments, if any.
AG Mortgage Investment Trust is a hybrid mortgage real estate investment trust that invests in a risk adjusted portfolio of agency investments and credit investments. Co.'s investment portfolio is comprised of its Credit Investments and Agency residential mortgage-backed securities (RMBS). Co.'s Credit Investments include: Residential Investments, which include investment grade and non-investment grade fixed and floating-rate securities; and Commercial Investments, which include commercial real estate loans, including first mortgages and mezzanine loans. Co.'s Agency RMBS include: fixed rate securities held as mortgage pass-through securities, as well as excess mortgage servicing rights.
Preferreds: MITT.PRA, MITT.PRB, MITT.PRC
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Buy (2.67 out of 4) 12nd percentile
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