American Capital Mortgage Investment Corp., Bethesda, Md., has priced a public offering of 11 million shares of common stock for total expected gross proceeds of $253 million before expenses.
Underwriters have a 30-day option to purchase an additional 1.65 million shares to cover overallotments.
The company, a real estate investment trust that invests in agency mortgage, nonagency mortgage and other mortgage-related investments, will use the proceeds to buy its targeted asset classes as market conditions permit.
Citigroup, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities and UBS Securities LLC are joint book-running managers for the offering. Barclays Capital Inc. is the lead manager for the offering. Wunderlich Securities is the co-manager for the offering.
The company’s stock, which had been trading near its all-time high (it only became a listed company in August), has lost nearly 2% of its value and it stood at $23.37 in early afternoon trading.