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ARMOUR Residential REIT upsizes, prices common stock offering

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ARMOUR Residential REIT upsizes, prices common stock offering

ARMOUR Residential REIT Inc. priced a public offering of 6 million common shares at $20.41 apiece.

The offering was upsized from the 5 million issuance the company had announced Jan. 14.

ARMOUR also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares.

The offering is subject to customary closing conditions and is expected to close on or about Jan. 17. Net proceeds from the offering are intended to be used for acquiring additional target assets and for general corporate purposes.

Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and JP Morgan are joint book-running managers of the offering.