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Apollo Residential Mortgage Inc | 8.00% Series A Cumulative Redeemable Perpetual Preferred Stock (AMTG.PRA)

Prospectus excerpt:  We are offering 6,000,000 shares of our 8.00% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share, which we refer to in this prospectus supplement as the Series A Preferred Stock. This is the original issuance of the Series A Preferred Stock.

Dividends on the Series A Preferred Stock will be cumulative from the date of original issue and payable quarterly on or about the last day of each January, April, July and October at the rate of 8.00% per annum of its $25.00 per share liquidation preference, which is equivalent to $2.00 per annum per share. The first dividend on the Series A Preferred Stock sold in this offering will be paid on January 31, 2013 and will be in the amount of $0.72778 per share.

Generally, we may not redeem the Series A Preferred Stock until September 20, 2017, except under circumstances intended to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On and after September 20, 2017, we may, at our option, redeem the Series A Preferred Stock, in whole, at any time, or in part, from time to time, for cash at a redemption price of $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. In addition, upon the occurrence of a Change of Control, as a result of which our common stock and the common securities of the acquiring or surviving entity (or American Depositary Receipts, or ADRs, representing such common securities) are not listed on the New York Stock Exchange, or NYSE, the NYSE MKT, or NYSE MKT, or the NASDAQ Stock Market, or the NASDAQ, or listed or quoted on a successor exchange or quotation system we may, at our option, redeem the Series A Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, by paying $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. To the extent we exercise our redemption right relating to the Series A Preferred Stock, holders of Series A Preferred Stock will not be permitted to exercise the conversion right described below in respect of their shares called for redemption. The Series A Preferred Stock has no maturity date and will remain outstanding indefinitely unless repurchased or redeemed by us or converted in connection with a Change of Control by the holders of Series A Preferred Stock.

Full Prospectus PDF », Secondary Prospectus PDF », AMTG Page »

Series:A
Alternate symbology:AMTG-A, AMTG-PA, AMTGprA
Redeemable?:Yes
Call Date:9/20/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,000,000
Overallotment:900,000
Liquidation Preference:$25.00
Original Coupon:8.00%
Pay Period:Quarterly
Pay Dates:31-Jan, 30-Apr, 31-Jul, 31-Oct
CDx3 Compliance Rating: Learn AMTG.PRA's Rating
Apollo Residential Mortgage is a holding company. Co. conducts business primarily through its ARM Operating, LLC subsidiary and its other operating subsidiaries. Co. is an alternative investment manager primarily engaged the business of investing, on a levered basis, in residential mortgage and mortgage-related assets in the U.S. As of Dec 31 2015, Co.'s portfolio was comprised of Agency residential mortgage-backed securities (RMBS) (comprised of pass-through, interest-only (IO) and Inverse IO securities), non-Agency RMBS, securitized mortgage loans, and other mortgage and mortgage related investment securities and other mortgage related investments.

Preferred: AMTG.PRA


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Name: 
Apollo Residential Mortgage Inc
Website: 
www.apolloresidentialmortgage.com
Sector: 
REITs

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