Arlington Asset Investment Corp. (AI) announced the completion of its previously-announced public offering of 3.45 million shares of Class A common stock.
This includes 450,000 shares of Class A common stock purchased by the underwriters pursuant to an option granted by the company, for net proceeds of about $87.0 million after deducting underwriting discounts and commissions and estimated expenses, the company stated.
The company stated that it expects to use the net proceeds of this 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. Net proceeds may also be used for general working capital purposes.
For comments and feedback: editorial@rttnews.com