BETHESDA, Md., May 14 /PRNewswire-FirstCall/ -- American Capital
Agency Corp. (Nasdaq: AGNC) (“AGNC” or the “Company”) announced
today that it priced a public offering of 6 million shares of its
common stock at a public offering price of $25.75 per share for total net proceeds of
approximately $147 million. In
connection with the offering, the Company has granted the
underwriters an option for 30 days to purchase up to an additional
900,000 shares to cover overallotments, if any. The offering
is subject to customary closing conditions and is expected to close
on May 19, 2010.
AGNC expects to use the net proceeds from this offering to
acquire additional agency securities as market conditions warrant
and for general corporate purposes.
Citi, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities and UBS
Investment Bank are joint book-running managers for the offering.
JMP Securities LLC and Keefe, Bruyette & Woods, Inc. are
the co-managers for the offering.
The offering will be made pursuant to AGNC's existing shelf
registration statement, previously filed with and declared
effective by the Securities and Exchange Commission. This
press release is neither an offer to sell nor a solicitation of an
offer to buy shares of common stock. The offering of these
securities will be made only by means of a prospectus and a related
prospectus supplement. Copies of the prospectus and
prospectus supplement may be obtained from Citi, Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220; telephone: (800)
831-9146; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One
Madison Avenue 1B, New York, New
York, 10010; telephone (800) 221-1037; Deutsche Bank
Securities, Prospectus Department, Harborside Financial Center, 100
Plaza One, Jersey City, New Jersey
07311-3988; telephone: (800) 503-4611 or UBS Investment Bank, Attn:
Prospectus Department, 299 Park Avenue, New York, New York 10171; telephone: (888)
827-7275.
ABOUT AMERICAN CAPITAL AGENCY
American Capital Agency is a REIT that invests in agency
pass-through securities and collateralized mortgage obligations for
which the principal and interest payments are guaranteed by a U.S.
Government agency or a U.S. Government-sponsored entity. The
Company is externally managed and advised by American Capital
Agency Management, LLC, an affiliate of American Capital, Ltd.
("American Capital"). For further information, please refer
to www.AGNC.com.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and
global asset manager. American Capital, both directly and through
its asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate and structured products. Founded in 1986, American
Capital currently has $14 billion (1)
in capital resources under management and eight offices in the
U.S., Europe and Asia. For further information, please refer to
www.AmericanCapital.com.
(1) As of March 31, 2010
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with regard to the
Company's securities offering and the anticipated use of the net
proceeds. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
No assurance can be given that the securities offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Completion of the securities offering on the terms described, and
the application of net proceeds, are subject to numerous
conditions, many of which are beyond the control of the Company,
including, without limitation, changes in interest rates; changes
in the yield curve; changes in prepayment rates; the availability
and terms of financing; changes in the market value of our assets;
general economic conditions; market conditions; conditions in the
market for agency securities; legislative and regulatory changes
that could adversely affect the business of the Company; and other
factors, including those set forth in the Risk Factors section of
the Company's periodic reports filed with the Securities and
Exchange Commission ("SEC"). Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
CONTACT:
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Investors –
(301) 968-9300
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SOURCE American Capital Agency Corp.