AG prices public offering of common stock to acquire RMBS
Real estate investment trust AG Mortgage Investment Trust (MITT) priced a public offering of 3.75 million shares of its common stock for estimated gross proceeds of $89 million.
AG also granted underwriters a 30-day option to purchase up to 562,500 additional shares of its common stock. The offering is expected to close on Dec. 26.
The net proceeds from the offering will be used to make additional acquisitions including residential mortgage-backed securities and other real estate-related assets.
JMP Securities, Wunderlich Securities and Maxim Group are acting as co-managers.