Barclays and Credit Suisse are bookrunners; deal has 30-day greenshoe
By Susanna Moon
Chicago, March 8 - Arlington Asset Investment Corp. said it priced a public offering for 3 million class A common shares at $25.50 per share. The deal was announced on March 7.
Barclays and Credit Suisse Securities (USA) LLC are the joint bookrunning managers. The underwriters have a 30-day over-allotment option for 450,000 additional shares.
The price per share is a 3.48% discount to the company's closing price on March 7.
Proceeds will be used to acquire target assets and for general working capital purposes.
The Arlington, Va., holding company acquires mortgage-related assets through its subsidiaries.
| Issuer: | Arlington Asset Investment Corp.
|
| Issue: | Class A common stock
|
| Amount: | $76.5 million
|
| Greenshoe: | $11,475,000
|
| Shares: | 3 million
|
| Price: | $25.50
|
| Warrants: | No
|
| Bookrunners: | Barclays and Credit Suisse Securities (USA) LLC
|
| Co-managers: | Ladenburg Thalmann & Co. Inc. and Compass Point Research & Trading, LLC
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Stock symbol: | NYSE: AI
|
| Stock price: | $26.42 at close March 7
|
| Market capitalization: | $332.73 million
|
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