Barclays, Credit Suisse, RBC Capital assist; deal also has greenshoe
By Devika Patel
Knoxville, Tenn., March 25 - Arlington Asset Investment Corp. said it priced a $75.35 million public offering of stock with an $11.3 million greenshoe. The offering was announced Monday.
The company will sell 2.75 million class A common shares at $27.40 per share. The price per share reflects a 3.45% discount to the March 24 closing share price of $28.38.
Settlement is expected March 28.
Barclays, Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC are 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: | $75.35 million
|
| Greenshoe: | $11,302,500
|
| Shares: | 2.75 million
|
| Price: | $27.40
|
| Warrants: | No
|
| Bookrunners: | Barclays, Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC
|
| Co-managers: | Compass Point Research & Trading, LLC, JMP Securities LLC, Ladenburg Thalmann & Co. Inc., Maxim Group LLC, MLV & Co. LLC, Wunderlich Securities, Inc.
|
| Announcement date: | March 24
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Stock symbol: | NYSE: AI
|
| Stock price: | $28.38 at close March 24
|
| Market capitalization: | $449.58 million
|
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