Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, May 8, 9:22 AM
This Slide: #618 of 620 |
Slide #618. AG Mortgage Investment Trust — Preferred Stock Offering
Company:
AG Mortgage Investment Trust (NYSE:MITT)
Underwriters:
Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and Deutsche Bank Securities Inc.
Shares Offered:
1,800,000
Price Per Share:
$25.00
Date of Over-Allotment Closing:
8/9/2012
Final Completed Deal Size:
2,070,000
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 residential mortgage real estate investment trust with a focus on investing in a portfolio of residential mortgage-related assets in the U.S. mortgage market. Co.'s investment portfolio (which excludes its ownership in Arc Home, LLC) includes Residential Investments and Agency Residential Mortgage-Backed Securities. Co.'s Residential Investments primarily consist of Non-Qualified Mortgage Loans and U.S. Government-Sponsored Entity Non-Owner Occupied Loans. In addition to its Residential Investments, Co. may also invest in other types of residential mortgage loans and other mortgage related assets.
Preferreds: MITT.PRA, MITT.PRB, MITT.PRC
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Buy (3.00 out of 4) 33rd percentile
(ranked lower than approx. 67% of all stocks covered)
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