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.
by RTT Staff Writer
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