MCLEAN, Va., July 7, 2021 /PRNewswire/ -- Arlington Asset
Investment Corp. (NYSE: AAIC) (the "Company") announced today that
it has priced an underwritten registered public offering of
$33.5 million aggregate principal
amount of 6.000% Senior Notes due 2026 (the "Notes"). The Notes
were priced at 100% of the principal amount and will mature on
August 1, 2026. The offering is
subject to customary closing conditions and is expected to close on
July 15, 2021. The Company has
granted the underwriters a 30-day option to purchase up to an
additional $5.0 million aggregate
principal amount of the Notes solely to cover over-allotments, if
any.
The Company expects to use the net proceeds of this offering to
redeem all or a portion of its 6.625% Senior Notes due 2023 (the
"2023 Notes") and use any remaining net proceeds for general
corporate purposes. This press release does not constitute a notice
of redemption under the indenture governing the 2023 Notes.
Ladenburg Thalmann & Co. Inc. is acting as book-running
manager of the offering and Compass Point Research & Trading,
LLC and JonesTrading Institutional Services LLC are acting as
co-managers of the offering.
The Notes will be offered under the Company's existing shelf
registration statement on Form S-3, which was declared effective by
the Securities and Exchange Commission. The offering of these Notes
will be made only by means of a prospectus supplement and
accompanying base prospectus, which will be filed with the
Securities and Exchange Commission. You may obtain copies of these
documents for free by visiting EDGAR on the SEC's website at
www.sec.gov. Alternatively, copies of these documents, when
available, may be obtained by contacting Ladenburg Thalmann &
Co. Inc. at the address below:
Ladenburg Thalmann & Co. Inc.
640 Fifth Avenue, 4th Floor
New York, New York 10019
telephone: 1-800-573-2541
email: prospectus@ladenburg.com
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the offered Notes or any other
securities, nor shall there be any sale of such Notes or any other
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
About the Company
The Company currently invests in mortgage-related and other
assets and has elected to be taxed as a REIT. The Company is
headquartered in the Washington, D.C. metropolitan
area.
Cautionary Notice Regarding Forward-Looking
Statements
Certain statements in this press release are forward-looking as
defined by the Private Securities Litigation Reform Act of
1995. For example, the fact that the offering has priced may
imply that the offering will close, but the closing is subject to
conditions customary in transactions of this type and may be
delayed or may not occur at all. No assurance can be given that the
offering discussed above will be completed on the terms described
or at all or that the net proceeds of this offering will be used as
described. Forward-looking statements can be identified by
forward-looking language, including words such as "believes,"
"expects," "anticipates," "estimates," "plans," "continues,"
"intends," "should", "may," and similar expressions. Due to known
and unknown risks, including the risk that the assumptions on which
the forward-looking statements are based prove to be inaccurate,
actual results may differ materially from expectations or
projections. These risks also include those described in the
Company's most recent Annual Report on Form 10-K and any other
documents filed by the Company with the Securities and Exchange
Commission from time to time, which are available from the Company
and from the Securities and Exchange Commission, and you should
read and understand these risks when evaluating any forward-looking
statement. Readers of this press release are cautioned to
consider these risks and uncertainties and not to place undue
reliance on any forward-looking statements. The Company does
not undertake any obligation to update any forward-looking
statement, whether written or oral, relating to matters discussed
in this press release, except as may be required by applicable
securities laws.
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SOURCE Arlington Asset Investment Corp.