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MFA Raising Funds For ARM Investments.
New York -- MFA Mortgage Investments has priced a public offering of 25 million shares of common stock at $9.25 per share, for estimated gross proceeds of $231.3 million.
MFA also granted the underwriters a 30-day option to purchase up to an additional 3.75 million shares of common stock to cover any overallotments.
The estimated net proceeds to MFA after the payment of underwriting discounts and commissions are expected to be $220 million. The company said it will use the net proceeds to acquire additional MBS, on a leveraged basis, and for working capital, which may include the repayment of ...
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Source: HighBeam Research, MFA Raising Funds For ARM Investments.