AGNC Investment Corp. has priced its public offering of 30 million common shares.
The company is expecting total gross proceeds of about $558 million from the offering, before underwriting discounts, commissions and estimated expenses.
Net proceeds will be used to finance the acquisition of agency securities, nonagency securities, other mortgage-related assets and hedging instruments and for other general corporate purposes.
The offering is expected to close on or about May 29.
The company has granted the underwriters a 30-day option to purchase up to an additional 4.5 million common shares.
Citigroup, BofA Merrill Lynch, Credit Suisse, JPMorgan, Morgan Stanley and UBS Investment Bank are serving as joint book-running managers for the offering. JMP Securities and Keefe Bruyette & Woods are serving as co-managers.
