American Capital Agency Corp. (AGNC: Quote) announced that it has priced a public offering of 32 million shares of its common stock for total estimated gross proceeds of about $1.09 billion.
In connection with the offering, the company has granted the underwriters an option for 30 days to purchase up to an additional 4.80 million shares of common stock. The offering is subject to customary closing conditions and is expected to close on July 23, 2012.
The company said it expects to use the net proceeds from this offering to acquire additional agency securities as market conditions warrant and for general corporate purposes.
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by RTT Staff Writer
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