BETHESDA, Md., July 1, 2016 /PRNewswire/ -- American
Capital Mortgage Investment Corp. ("MTGE" or the "Company")
(NASDAQ: MTGE) today announced that American Capital Agency Corp.
("AGNC") (NASDAQ: AGNC) has completed the acquisition of American
Capital Mortgage Management, LLC ("ACMM"), the parent company of
MTGE's external manager, American Capital MTGE Management, LLC
("MTGE Manager"), from a portfolio company of American Capital,
Ltd. ("American Capital") (NASDAQ: ACAS). MTGE Manager will
continue to provide investment management services to MTGE on an
external basis under the existing fee structure.
"We believe the acquisition of our external manager by AGNC is a
great outcome for MTGE's shareholders," said Gary Kain, Chief Executive Officer, President
and Chief Investment Officer of MTGE. "The closing of this
transaction allows MTGE to maintain continuity of our management
and investment teams, providing MTGE with experienced personnel and
a well-established infrastructure typically associated with
significantly larger mortgage REITs."
In connection with the closing of the transaction, the Company
also announced changes to its management team. Peter J. Federico, previously the Company's
Senior Vice President and Chief Risk Officer, will serve as the
Company's Executive Vice President and Chief Financial
Officer. Kenneth Pollack,
previously Senior Vice President and Deputy General Counsel of
American Capital, has been appointed Senior Vice President, Chief
Compliance Officer and Secretary of MTGE. Messrs. Federico
and Pollack will replace John R.
Erickson, previously Executive Vice President and Chief
Financial Officer, and Samuel A.
Flax, previously Executive Vice President and Secretary,
respectively, who resigned effective upon the closing of the
transaction as contemplated by the Company's May 23, 2016 press release.
For further information or questions, please contact Investor
Relations at (301) 968-9220 or IR@MTGE.com.
ABOUT AMERICAN CAPITAL MORTGAGE INVESTMENT
CORP.
American Capital Mortgage Investment Corp. is a real
estate investment trust that invests in and manages a leveraged
portfolio of agency mortgage investments, non-agency mortgage
investments and other real estate-related investments.
Following the closing of the transaction, the Company is no longer
affiliated with American Capital, Ltd. The Company is
externally managed and advised by American Capital MTGE Management,
LLC, an affiliate of American Capital Agency Corp. For
further information, please refer to www.MTGE.com.
FORWARD LOOKING STATEMENTS
This press release
contains forward-looking statements, including statements regarding
the expected benefits of the transaction and management's plans,
projections and objectives for future operations.
Forward-looking statements are based on estimates, projections,
beliefs and assumptions of management of the Company at the time of
such statements and are not guarantees of future performance or
results. Forward-looking statements involve risks and
uncertainties in predicting future results and conditions.
Actual results could differ materially from those projected
in these forward-looking statements due to a variety of important
factors, including, without limitation, changes in interest rates,
changes in the yield curve, changes in prepayment rates, the
availability and terms of financing, changes in the market value of
the Company's assets, risks related to the disruption of management
time from ongoing business operations due to the transaction, the
failure to realize the expected benefits from the transaction,
general economic conditions, market conditions, conditions in the
market for agency securities, and legislative and regulatory
changes that could adversely affect the business of the
Company. Certain important factors that could cause actual
results to differ materially from those contained in the
forward-looking statements are included in the Company's periodic
reports filed with the Securities and Exchange Commission
("SEC"). Copies are available on the SEC's website,
www.sec.gov. The Company disclaims any obligation to update
or revise any forward-looking statements based on the occurrence of
future events, the receipt or new information, or otherwise.
CONTACT:
Investor Relations – (301) 968-9220
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SOURCE American Capital Mortgage Investment Corp.