Javelin Mortgage prices upsized IPO at $20

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Javelin Mortgage Investment, a newly formed mortgage REIT that will be externally managed by ARMOUR Residential Management (ARRM), raised $145 million by offering 7.25 million shares at $20. Javelin had originally planned to offer 6.25 million shares. The REIT raised an additional $5 million through a private placement to two directors, Daniel Staton and Marc Bell. Javelin Mortgage Investment will list on the NYSE under the symbol JMI. Deutsche Bank, Citi, Barclays and Credit Suisse acted as bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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