Barclays, Credit Suisse were bookrunners; greenshoe fully exercised
By Devika Patel
Knoxville, Tenn., March 13 - Arlington Asset Investment Corp. said it settled an $87.98 million public offering of stock. The deal was announced on March 7 and priced for $76.5 million with an $11.48 million greenshoe on March 8.
The company sold 3.45 million class A common shares at $25.50 per share. Of the shares, 450,000 were part of the fully exercised greenshoe. The price per share is a 3.48% discount to the company's closing price on March 7.
Barclays and Credit Suisse Securities (USA) LLC were the joint bookrunning managers.
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: | $87,975,000 (including $11,475,000 greenshoe)
|
| Shares: | 3.45 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
|
| Announcement date: | March 7
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Stock symbol: | NYSE: AI
|
| Stock price: | $26.42 at close March 7
|
| Market capitalization: | $340.33 million
|
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