Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 9:24 PM
|This Slide: #580 of 582|
Slide #580. AG Mortgage Investment Trust — Preferred Stock Offering
AG Mortgage Investment Trust (NYSE:MITT)
Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and Deutsche Bank Securities Inc.
Price Per Share:
Date of Over-Allotment Closing:
Final Completed Deal Size:
Preferred Stock Offering Details:
AG Mortgage Investment Trust, Inc. announced the exercise in full of the over-allotment option granted to the underwriters by the Company with respect to the purchase of 270,000 shares of the Company's 8.25% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share. The over-allotment option is being exercised in connection with the Company's previously announced public offering of 1,800,000 shares of its 8.25% Series A Cumulative Redeemable Preferred Stock. The total offering of 2,070,000 shares produced gross proceeds of $51.75 million before deducting the underwriting discount and estimated offering expenses.
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.
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Buy (2.67 out of 4)
(ranked lower than approx. 88% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com