Arlington Asset Investment completes offering of 1.76 million shares
- March 27, 2012
Arlington-based Arlington Asset Investment Corp. has completed its public offering of 1.76 million shares of Class A common stock.
The offering generated net proceeds of about $40.2 million, after deducting underwriting discounts, commissions and estimated expenses.
Arlington Asset Investment expects to use the net proceeds to acquire certain target assets, including residential mortgage-backed securities issued by government agencies or private organizations.
The company may also use the net proceeds for general working capital purposes.
Arlington Asset Investment has granted underwriters a 30-day option to purchase up to 263,250 additional shares of Class A common stock to cover over-allotments.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., served as sole bookrunning manager for the offering. Compass Point Research & Trading LLC, Mitsubishi UFJ Securities and National Securities Corporation served as lead managers and Aegis Capital Corp. served as co-manager.
Arlington Asset Investment Corp. invests in mortgage-related securities and other assets. T