Invesco Mortage Capital sees $286.4m from offering
Invesco Mortgage Capital (IVR) raised $286.4 million through the sale of 12 million common shares Wednesday. Credit Suisse Securities and Morgan Stanley led the offering, with Keefe Bruyette & Woods, JMP Securities, and Wells Fargo Securities as co-managers. Invesco provided underwriters with an additional 1.8 million shares to cover over-allotments. The real estate investment trust plans to use proceeds to acquire residential and commercial mortgage-backed securities, other mortgage loans, and for general corporate purposes. The company is managed by Invesco Advisers, which is a unit of Atlanta-based, investment giant Invesco Ltd. (IVZ). Write to Jason Philyaw.