ARMOUR Residential REIT, Inc. Announces Pricing of Public Offering of 31,000,000 Shares of Common Stock
March 09 2012 - 8:03AM
ARMOUR Residential REIT, Inc. (NYSE:ARR) (NYSE Amex:ARR.WS)
("ARMOUR" or the "Company") announced today that it has priced an
underwritten public offering of 31,000,000 shares of common stock.
ARMOUR has granted the underwriters a 30-day option to purchase up
to 4,650,000 additional shares of common stock. The
underwriters are offering the shares in one or more transactions in
the over-the-counter market or through negotiated transactions at
market prices or at negotiated prices. The offering is
expected to close on March 14, 2012.
Deutsche Bank Securities Inc. and BofA Merrill
Lynch are acting as joint book-running managers of the
offering. JMP Securities LLC and Ladenburg Thalmann & Co.
Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc.
(NYSE Amex:LTS), are acting as co-managers of the offering.
The Company intends to use the net proceeds of the offering to
acquire additional agency securities as market conditions warrant
and for general corporate purposes.
A registration statement relating to the offered
securities has been declared effective by the Securities and
Exchange Commission ("SEC"). The offering is being made only by
means of a prospectus supplement and accompanying base prospectus.
Copies of the prospectus supplement and the related prospectus for
the proposed offering may be obtained by contacting: Deutsche Bank
Securities Inc., Attention: Prospectus Department, Harborside
Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, by
calling (800) 503-4611, or by emailing prospectus.cpdg@db.com or
from BofA Merrill Lynch, 4 World Financial Center, New York, NY
10080, Attn: Prospectus Department or email
dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to
sell, or a solicitation of an offer to buy, nor shall there be any
sale of the Company's securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such
state or jurisdiction.
ARMOUR Residential REIT, Inc.
ARMOUR is a Maryland corporation that invests
primarily in hybrid adjustable rate, adjustable rate and fixed rate
residential mortgage-backed securities ("RMBS") issued or
guaranteed by U.S. Government-chartered entities. ARMOUR is
externally managed and advised by ARMOUR Residential Management LLC
("ARRM"). ARMOUR Residential REIT, Inc. has elected to be taxed as
a real estate investment trust ("REIT") for U.S. federal income tax
purposes, commencing with ARMOUR's taxable year ended December 31,
2009.
Safe Harbor
This press release includes "forward-looking
statements" within the meaning of the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995.
Actual results may differ from expectations, estimates and
projections and, consequently, you should not rely on these forward
looking statements as predictions of future events. Words such as
"expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results.
CONTACT: Investor Contact:
Jeffrey Zimmer
Co-Chief Executive Officer, President and Co-Vice Chairman
ARMOUR Residential REIT, Inc.
(772) 617-4340
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