Chimera Investment Corporation Announces Effectiveness of Reverse Stock Split

Chimera Investment Corporation (NYSE: CIM) today announced the effectiveness of its previously disclosed one-for-five reverse stock split. Beginning with the opening of trading on Tuesday, April 7, 2015, Chimera's common stock will trade on the NYSE on a split-adjusted bases under the symbol "CIM", with a new CUSIP of 16934Q 208. As a result of the reverse stock split, the number of outstanding shares of Chimera's common stock were reduced from approximately 1 billion to approximately 200 million. Concurrently, the authorized number of shares of common stock were reduced from 1.5 billion to 300 million. The par value of the Chimera's common stock will remain at $0.01 per share after the reverse stock split. No fractional shares were issued in connection with the reverse stock split. Instead, each stockholder holding fractional shares will receive, in lieu of such fractional shares, cash in an amount determined on the basis of the average closing price of Chimera's common stock on the NYSE for the three consecutive trading days ending on April 6, 2015. Stockholders of record will receive information from Computershare, Chimera's transfer agent, regarding their stock ownership and, if applicable, cash in lieu of fractional share payments. Stockholders who hold their shares in brokerage accounts or "street name" are not required to take any action in connection with the reverse stock split.