Arlington Asset Investment Corp. (AI: Quote) said Wednesday that it has commenced an underwritten registered public offering of 1.35 million shares of Class A common stock.
The company also expects to grant the underwriters an option for 30 days to purchase up to an additional 202,500 shares of Class A common stock to cover over-allotments, if any.
The company said it expects to use the net proceeds of the offering to acquire certain of its target assets, including residential mortgage-backed securities issued by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities and MBS issued by private organizations. The company may also use the net proceeds for general working capital purposes.
Click here to receive FREE breaking news email alerts for Arlington Asset Investment Corp. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com