ARLINGTON, Va., Feb. 19, 2019 /PRNewswire/ -- Arlington Asset
Investment Corp. (NYSE: AI) (the "Company") announced today
that it has priced an underwritten registered public offering of
6,000,000 shares of Class A common stock resulting in expected
gross proceeds of approximately $50.0
million, before deducting underwriting discounts and
estimated offering expenses. The Company has granted the
underwriters an option for 30 days to purchase up to an additional
900,000 shares of Class A common stock. Morgan Stanley &
Co. LLC and JMP Securities LLC are serving as joint book running
managers for the offering. JonesTrading Institutional Services LLC
is serving as co-manager for the offering. The underwriters propose
to offer the shares of Class A common stock for sale from time to
time in one or more negotiated transactions or otherwise, at market
prices prevailing at the time of sale, at prices related to such
prevailing market prices or at negotiated prices. The offering is
subject to customary closing conditions and is expected to close on
Friday, February 22, 2019.
The Company expects to use the net proceeds of this offering to
acquire certain of the Company's target assets, including
residential mortgage-backed securities issued by U.S. government
agencies or guaranteed as to principal and interest by U.S.
government agencies or U.S. government-sponsored enterprises. The
Company may also use the net proceeds for general working capital
purposes.
The shares of Class A common stock 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 shares will be made only by means of a
prospectus supplement and accompanying base prospectus, which will
be filed with the Securities and Exchange Commission. Copies of the
prospectus supplement and accompanying base prospectus related to
this offering may be obtained by contacting Morgan Stanley &
Co. LLC or JMP Securities LLC at the addresses below:
Morgan Stanley & Co. LLC
180 Varick Street, 2nd Floor
New York, NY 10014
Attention: Prospectus Dept.
JMP Securities LLC
600 Montgomery Street,
10th Floor
San Francisco, CA 94111
Attention: Prospectus Department
Telephone: (415) 835-8985
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the offered shares or any other
securities, nor shall there be any sale of such shares 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 Arlington Asset Investment Corp.
Arlington Asset Investment Corp. (NYSE: AI) currently invests
primarily in mortgage-related and other assets and intends to
qualify to be taxed as a real estate investment trust commencing
with its taxable year ending December
31, 2019. The Company is headquartered in the
Washington, D.C. metropolitan
area.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These include statements
regarding the Company's planned offering of common stock and the
anticipated use of proceeds. Forward-looking statements can
be identified by forward-looking language, including words such as
"believes," "anticipates," "expects," "estimates," "intends,"
"may," "plans," "projects," "will" and similar expressions, or the
negative of these words. 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 Annual Report on Form 10-K for the year ended
December 31, 2018, which has been
filed with the Securities and Exchange Commission. 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.