Deal conducted by Deutsche Bank, Bank of America Merrill Lynch, Stifel Nicolaus
By Devika Patel
Knoxville, Tenn., Jan. 20 - AG Mortgage Investment Trust, Inc. priced a $95 million public offering of stock, according to a prospectus filed Friday with the Securities and Exchange Commission. The deal was announced Thursday.
The company will sell 5 million common shares at $19.00 per share, a 1.12% premium to the Jan. 19 closing share price of $18.79.
Deutsche Bank Securities Inc., Bank of America Merrill Lynch and Stifel Nicolaus Weisel are the joint bookrunners. RBC Capital Markets is the lead manager, and JMP Securities, Wunderlich Securities, National Securities Corp., Sterne Agee, Ladenburg Thalmann & Co. Inc. and Mitsubishi UFJ Securities are the co-managers.
Settlement is expected Jan. 24.
Proceeds will be used to acquire additional agency securities, non-agency residential mortgage-backed securities and other target assets and for general corporate purposes.
The real estate investment trust is based in New York.
| Issuer: | AG Mortgage Investment Trust, Inc.
|
| Issue: | Common shares
|
| Amount: | $95 million
|
| Shares: | 5 million
|
| Price: | $19.00
|
| Warrants: | No
|
| Bookrunners: | Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Stifel Nicolaus Weisel
|
| Announcement date: | Jan. 19
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 24
|
| Stock symbol: | NYSE: MITT
|
| Stock price: | $18.79 at close Jan. 19
|
| Market capitalization: | $189.28 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
