Deal sells common shares at $23.90 each with $6.29 million greenshoe
By Devika Patel
Knoxville, Tenn., March 22 - Arlington Asset Investment Corp. said it priced a $41.94 million public offering of stock with a $6.29 million greenshoe. The offering was announced Wednesday.
The company will sell 1,755,000 class A common shares at $23.90 per share. The price per share reflects a 0.76% premium to the March 21 closing share price of $23.72.
Settlement is expected March 26.
Ladenburg Thalmann & Co. Inc. is the bookrunner.
Compass Point Research & Trading, LLC, Mitsubishi UFJ Securities and National Securities Corp. are the lead managers, and Aegis Capital Corp. is the co-manager.
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: | $41,944,500
|
| Greenshoe: | $6,291,675
|
| Shares: | 1,755,000
|
| Price: | $23.90
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Lead managers: | Compass Point Research & Trading, LLC, Mitsubishi UFJ Securities and National Securities Corp.
|
| Co-manager: | Aegis Capital Corp.
|
| Announcement date: | March 21
|
| Pricing date: | March 22
|
| Settlement date: | March 26
|
| Stock symbol: | NYSE: AI
|
| Stock price: | $23.72 at close March 21
|
| Market capitalization: | $175.87 million
|
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