ARLINGTON, Va., Sept. 9, 2014 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") announced today that it has completed its previously-announced public offering of 3,162,500 shares of Class A common stock, including 412,500 shares of Class A common stock issued pursuant to the exercise of an option granted to the Underwriters, for net proceeds of approximately $85.2 million after deducting underwriting discounts and commissions and estimated expenses. Credit Suisse Securities (USA) LLC, Barclays, Morgan Stanley, RBC Capital Markets, LLC and Keefe, Bruyette & Woods, Inc., a Stifel Company, served as joint bookrunning managers for the offering. JMP Securities LLC, FBR Capital Markets & Co., Ladenburg Thalmann & Co. Inc., MLV & Co. LLC and Compass Point Research & Trading, LLC served as co-managers.
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 ("MBS") issued by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities and MBS issued by private organizations. The Company may also use the net proceeds for general working capital purposes.
The shares of Class A common stock were 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 was made only by means of a prospectus supplement and accompanying base prospectus, which was 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 Credit Suisse Securities (USA) LLC, Barclays, Morgan Stanley, RBC Capital Markets, LLC or Keefe, Bruyette & Woods, Inc., a Stifel Company, at the addresses below:
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue, New York, NY 10010
telephone: (800) 221-1037
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Morgan Stanley & Co. LLC
180 Varick Street, 2nd Floor
New York, NY 10014
Attention: Prospectus Dept.
Telephone: (866) 718-1649
RBC Capital Markets, LLC
Three World Financial Center, 8th Floor
200 Vesey Street
New York, NY 10281
Attn: Equity Syndicate
Tel: (877) 822-4089
Keefe, Bruyette & Woods, Inc., A Stifel Company
Attention: Equity Capital Markets
787 Seventh Ave., 4th Floor
New York, New York 10019
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) is a principal investment firm that currently invests primarily in mortgage-related and other assets. The Company is headquartered in the Washington, D.C. metropolitan area.
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 anticipated use of the net proceeds of this offering. 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, 2013, 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.
SOURCE Arlington Asset Investment Corp.