Current Report Filing (8-k)
May 17 2017 - 4:39PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 17, 2017 (May 16, 2017)
ARLINGTON ASSET INVESTMENT CORP.
(Exact name of Registrant as specified in its charter)
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Virginia
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54-1873198
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001-34374
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(State or Other Jurisdiction of
Incorporation or Organization)
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(I.R.S. Employer
Identification No.)
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(Commission
File Number)
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1001 Nineteenth Street North
Arlington, VA 22209
(Address of principal executive offices) (Zip code)
(703) 373-0200
(Registrants telephone number including area code)
N/A
(Former name or
former address, if changed from last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the
Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected
not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01.
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Entry into a Material Definitive Agreement.
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On May 16, 2017, Arlington Asset Investment Corp. (the
Company) entered into an equity distribution agreement (the Equity Distribution Agreement) with JonesTrading Institutional Services LLC (the Sales Agent), pursuant to which the Company may offer and sell, from
time to time, up to 1,865,000 shares of the Companys 7.00% Series B Cumulative Perpetual Redeemable Preferred Stock, $0.01 par value per share (the Shares).
Pursuant to the Equity Distribution Agreement, the Shares may be offered and sold through the Sales Agent in transactions that are deemed to be at the
market offerings as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange or, subject to the terms of
a written notice from the Company, in privately negotiated transactions. Under the Equity Distribution Agreement, the Sales Agent will be entitled to compensation of up to 2.0% of the gross proceeds from the sale of the Shares sold through the Sales
Agent. The Company has no obligation to sell any of the Shares under the Equity Distribution Agreement and may at any time suspend solicitations and offers under the Equity Distribution Agreement.
The Shares will be issued pursuant to the Companys Registration Statement on Form S-3 (File No. 333-215384) (the Registration
Statement). The Company has filed a prospectus supplement, dated May 16, 2017, to the prospectus, dated February 17, 2017, with the Securities and Exchange Commission in connection with the offer and sale of the Shares from time to
time in the future.
The Sales Agent and its affiliates have provided, and may in the future provide, investment banking, brokerage and other services to
the Company in the ordinary course of business, and the Company paid, and expects to pay, customary fees and commission for such services, respectively.
The foregoing description of the Equity Distribution Agreement is not complete and is qualified in its entirety by reference to the entire Equity Distribution
Agreement, a copy of which is attached hereto as Exhibit 1.1 and incorporated herein by reference.
Item 9.01.
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Financial Statements and Exhibits.
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(d)
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Exhibits
. The following exhibits are being filed herewith:
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Exhibit
No.
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Description
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1.1
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Equity Distribution Agreement, dated May 16, 2017, by and between the Company and JonesTrading Institutional Services LLC.
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5.1
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Opinion of Hunton & Williams LLP regarding the legality of the Shares.
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23.1
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Consent of Hunton & Williams LLP (included in Exhibit 5.1).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by
the undersigned hereunto duly authorized.
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ARLINGTON ASSET INVESTMENT CORP.
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Date: May 17, 2017
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By:
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/s/ Richard E. Konzmann
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Name:
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Richard E. Konzmann
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Title:
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Executive Vice President, Chief Financial Officer and Treasurer
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EXHIBIT INDEX
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Exhibit
No.
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Description
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1.1
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Equity Distribution Agreement, dated May 16, 2017, by and between the Company and JonesTrading Institutional Services LLC.
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5.1
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Opinion of Hunton & Williams LLP regarding the legality of the Shares.
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23.1
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Consent of Hunton & Williams LLP (included in Exhibit 5.1).
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4
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