ATLANTA, July 19, 2012 /PRNewswire/ -- Invesco Mortgage Capital Inc. (the "Company") (NYSE: IVR) announced today that it has priced the public offering of 5.4 million shares of its 7.75% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $135 million, before deducting underwriting discounts and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 810,000 shares of the Series A Preferred Stock to cover over-allotments, if any. The offering is expected to close on July 26, 2012.
The Company expects to use the net proceeds from the offering to make additional acquisitions of residential and commercial mortgage-backed securities and mortgage loans, on a leveraged basis, and for other general corporate purposes.
Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are acting as joint lead book-running managers for the offering. JMP Securities LLC, Keefe, Bruyette & Woods, Inc. and Mitsubishi UFJ Securities (USA), Inc. are serving as co-managers.
The Company is conducting the offering pursuant to an effective registration statement on Form S-3ASR dated May 27, 2011 (Commission File No. 333-174598). The offering will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting:
Morgan Stanley & Co. LLC
180 Varick Street, 2nd Floor
New York, New York 10014
Attention: Prospectus Department
or by calling 1-866-718-1649
UBS Securities LLC
299 Park Avenue
New York, New York 10171
Attention: Prospectus Department
or by calling 1-877-827-6444, ext 561 3884
Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd.
Charlotte, North Carolina 28262
Attention: Capital Markets Client Support
or by calling 1-800-326-5897 or email: email@example.com
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust that focuses on financing and managing residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), a leading independent global investment management company.
Cautionary Notice Regarding Forward-Looking Statements
This release may include statements and information that constitute "forward-looking statements" within the meaning of the U.S. securities laws. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance. In addition, words such as "will," "expects" and "plans," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements.
Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks identified under the captions "Risk Factors," "Forward-Looking Statements" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our registration statement on Form S-3ASR (Commission File No. 333-174598), our annual report filed on Form 10-K and quarterly report on Form 10-Q, which are incorporated by reference in the prospectus supplement and the accompanying prospectus, and which are available on the Securities and Exchange Commission's website at www.sec.gov.
All written or oral forward-looking statements that we make, or that are attributable to us, are expressly qualified by this cautionary notice. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate, except as required by law.
SOURCE Invesco Mortgage Capital Inc.