AG Mortgage Prices $51.2 Mln Public Share Offering at 4% Discount; Stock Down 4% Pre-Market

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Shares of AG Mortgage Investment Trust ( MITT ) fell nearly 4% pre-market Tuesday after the company priced the underwritten public offering of 3 million common shares at $17.05 apiece, about a 4% discount to the stock's previous close, for total proceeds of approximately $51.2 million.

AG Mortgage granted the underwriters a 30-day option to buy up to 450,000 additional shares at the same offering price. The financing is expected to close Feb. 14 and proceeds are earmarked for planned purchases of residential mortgage loans, commercial mortgage loans and other target assets, along with general working capital.

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This article appears in: Investing , ETFs
Referenced Symbols: MITT

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