Hatteras Financial Corp. Announces Acquisition of Pingora Asset Management and Pingora Loan Servicing

WINSTON-SALEM, N.C.--(BUSINESS WIRE)--

Hatteras Financial Corp. HTS ("Hatteras" or the "Company") today announced the completion of its acquisition of Pingora Asset Management, LLC ("Pingora Management") and Pingora Loan Servicing, LLC (together with Pingora Management, "Pingora"), a specialized asset manager focused on investing in new production performing mortgage servicing rights and servicing residential mortgage loans. In connection with the closing, the Company granted employment inducement awards in the form of 102,462 restricted shares of the Company's common stock to 10 employees of Pingora. Pursuant to the terms of the inducement restricted stock agreements, the shares will vest in five equal annual installments beginning on August 31, 2016, provided the employee remains an employee of the Company or an affiliate on the vesting date. The Company's board of directors approved the employment inducement awards in reliance on the employment inducement exception to shareholder approval provided under NYSE Rule 303A.08.

About Hatteras Financial Corp.

Hatteras Financial Corp. is a real estate investment trust formed in 2007 to invest in single-family residential real estate mortgage assets. Based in Winston-Salem, N.C., the Company is managed and advised by Atlantic Capital Advisors LLC. The Company is a component of the Russell 2000® and Russell 3000® indices.

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