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Chimera Investment prices public offering of preferred shares

ChimeraInvestment Corp. priced an underwritten public offering of 5.4million shares of its 8.0% series A cumulative redeemable preferred stock at$25.00 per share, for gross proceeds of approximately $135 million.

The offering is expected to close Oct. 14.

The company intends to apply to list the stock on the NewYork Stock Exchange under the symbol CIM PRA. Chimera Investment has grantedthe underwriters an option for 30 days to purchase up to an additional 810,000shares of the series A preferred stock to cover any overallotments.

The company intends to use the net proceeds from theoffering to acquire residential mortgage loans and other targeted assets andfor general corporate purposes.

Morgan Stanley & Co. LLC, UBS Securities LLC, KeefeBruyette & Woods Inc. and RBC Capital Markets LLC are acting as jointbook-running managers for the offering.