Sale of 3.45 million common shares funds acquisitions, working capital
By Devika Patel
Knoxville, Tenn., Sept. 26 - Arlington Asset Investment Corp.'s underwriters fully exercised the $11.16 million greenshoe in a public sale of stock, bringing the total proceeds to $85.56 million, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced for $74.4 million Sept. 21.
The company will sell 3.45 million common shares at $24.80 apiece. The price per share is a 0.08% discount to the Sept. 20 closing share price of $24.82.
Barclays is the bookrunning manager. Ladenburg Thalmann & Co. Inc. is the lead manager, and Compass Point is the co-manager.
Settlement is expected Wednesday.
Proceeds will be used to acquire certain 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: | Common shares
|
| Amount: | $85.56 million (including $11.16 million greenshoe)
|
| Shares: | 3.45 million
|
| Price: | $24.80
|
| Warrants: | No
|
| Bookrunner: | Barclays
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Stock symbol: | NYSE: AI
|
| Stock price: | $24.82 at close Sept. 20
|
| Market capitalization: | $230.21 million
|
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