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AGNC Investment to offer common shares

AGNC Investment Corp. intends to publicly offer 30 million common shares.

The company plans to grant the underwriters a 30-day option to purchase up to an additional 4.5 million shares.

Based on the May 23 closing price of $19.18, S&P Global Market Intelligence calculates a gross offering size of approximately $661.7 million.

The company plans to use the net proceeds to finance the acquisition of agency securities, nonagency securities, other mortgage-related assets and hedging instruments, and for general corporate purposes.

Citigroup, Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan, Morgan Stanley and UBS Investment Bank are joint book-running managers for the offering. JMP Securities and Keefe Bruyette & Woods are co-managers.