Javelin Mortgage Investment Corp. announced terms for its IPO, according to Renaissance Capital.
Javelin was created by another real estate investment trust, called ARMOUR Residential Management, in order to acquire mortgage-related assets.
Based in Vero Beach, FL., Javelin plans to raise $125 million by offering 6.3 million shares at a price of $20.
"At the proposed offer price, Javelin Mortgage Investment Corp. would command a fully diluted market value of $130 million," the Renaissance note states.
Deutsche Bank, Citi, Barclays and Credit Suisse are the joint bookrunners on the deal. The company will list under the symbol JMI.