AGNC Investment Corp. (Nasdaq: AGNC) announced today that it priced a public offering of 30,000,000 shares of common stock for total expected gross proceeds of approximately $558.0 million before underwriting discounts and commissions and estimated expenses.
In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 4,500,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on or about May 29, 2018.
AGNC expects to use the net proceeds from this offering to finance the acquisition of agency securities, non-agency securities (including credit risk transfer securities), other mortgage-related assets and hedging instruments and for other general corporate purposes.
Citigroup, BofA Merrill Lynch, Credit Suisse, J.P. Morgan, Morgan Stanley and UBS Investment Bank are joint book-running managers for the offering. JMP Securities and Keefe, Bruyette & Woods, A Stifel Company, are co-managers for the offering.
The offering will be made pursuant to AGNC's existing effective registration statement, previously filed with the Securities and Exchange Commission (the "SEC"). The offering of these securities will be made only by means of a prospectus. Copies of the prospectus and prospectus supplement, when available, may be obtained by contacting:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Or by telephone: 800-831-9146
BofA Merrill Lynch
Attention: Prospectus Department
200 North College Street
3rd Floor
Charlotte, NC 28255-0001
Or by telephone: 800-294-1322
Or by email: dg.prospectus_requests@baml.com
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, NY 10010
Or by telephone: 800-221-1037
Or by email: newyork.prospectus@credit-suisse.com
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Or by telephone: 1-866-803-9204
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street
2nd Floor
New York, NY 10014
UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
Or by telephone: 888-827-7275
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
ABOUT AGNC INVESTMENT CORP.
AGNC Investment Corp. is an internally-managed real estate investment trust that invests primarily in residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government-sponsored enterprise or a U.S. Government agency.
