MFA Mortgage Investments, Inc. (NYSE: MFA) announced today the pricing of an underwritten public offering of 40,000,000 shares of its common stock, at a price to the public of $6.95 per share, for estimated gross proceeds of approximately $278.0 million.
MFA has granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of common stock to cover over-allotments, if any. All of the shares are being offered by MFA from its existing shelf registration statement.
The estimated net proceeds to MFA from this offering after the payment of underwriting discounts and commissions and related expenses are expected to be approximately $264.5 million.
MFA intends to use substantially all of the net proceeds from this offering to acquire additional high quality Agency MBS, on a leveraged basis, consistent with its investment policy and for working capital, which may include, among other things, the repayment of its repurchase agreements. -- MFA Mortgage Investments, Inc.
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