Apollo Residential
Mortgage AMTG today announced
the closing of an underwritten public offering of the Company's 8.00%
Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series
A Preferred Stock") with a liquidation preference of $25 per share.
In connection with the offering, the underwriters exercised their
option to purchase an additional 900,000 shares of the Series A
Preferred Stock on the same terms and conditions. Together with the
exercise of the underwriters' option to purchase additional shares,
the Company sold an aggregate of 6,900,000 shares, which generated
net proceeds to the Company of approximately $166.6 million, after
deducting the underwriting discount and estimated offering expenses
payable by the Company. AMTG intends to use the net proceeds from the
offering to acquire Agency residential mortgage backed securities
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in