AGNC Investment (NASDAQ:AGNC) on Wednesday said it has priced a public offering of 12M depositary shares with a liquidation preference of $25.00 per share, for gross proceeds of $300 million.
Each depositary share represents a 1/1,000th interest in a share of the company’s 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock.
In connection with the offering, the company has granted the underwriters an option for 30 days to purchase up to an additional 1.8 million depositary shares solely to cover overallotments.
The company intends to apply to list the depositary shares on Nasdaq under the symbol “AGNCZ.”
The offering is expected to close on or about September 10.
AGNC intends to use the net proceeds from this offering to finance the acquisition of Agency securities, non-Agency securities and other real estate-related assets, among others.
