AGNC Investment Corp. has closed its public offering of 34.5 million common shares.
The offering includes the 4.5 million shares sold after underwriters exercised their option to purchase additional shares.
Total gross proceeds from the offering were approximately $641.7 million before underwriting discounts and commissions and estimated expenses.
AGNC expects to use the offering's net proceeds to finance the acquisition of agency securities, non-agency securities, other mortgage-related assets and hedging instruments, and for other general corporate purposes.
Citigroup, Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan, Morgan Stanley and UBS Investment Bank acted as joint book-running managers for the offering. JMP Securities and Keefe Bruyette & Woods acted as co-managers.
