American Home Mortgage $50 million preferred shares talked 9 1/8%-9 3/8%, to price Thursday

By Paul A. Harris

St. Louis, Dec. 8 - American Home Mortgage Investment Corp. plans to price $50 million of series B cumulative redeemable perpetual preferred shares on Thursday, according to a syndicate source.

Price talk is 9 1/8% to 9 3/8%.

Friedman Billings Ramsey is the bookrunner. Stifel Nicolaus, RBC Capital Markets and Advest are co-managers.

The company plans to sell 2 million shares at $25 par and expects to list the shares on the New York Stock Exchange.

Proceeds will be used to grow the business by adding more loans.

The Melville, N.Y., company is a mortgage lender and real estate investment trust.

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