BETHESDA, Md., March 21, 2011 /PRNewswire/ -- American Capital
Agency Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced
today that it priced a public offering of 28,000,000 shares of
common stock for total estimated gross proceeds of approximately
$780 million.
In connection with the offering, the Company has granted the
underwriters an option for 30 days to purchase up to an additional
4,200,000 shares of common stock to cover overallotments, if any.
The offering is subject to customary closing conditions and is
expected to close on March 25,
2011.
BofA Merrill Lynch, Citi, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities acted as
joint book running managers for the offering. JMP Securities
LLC and Sterne Agee acted as co-managers for the offering.
AGNC expects to use the net proceeds from this offering to
acquire additional agency securities as market conditions warrant
and for general corporate purposes.
The offering will be made pursuant to AGNC's existing effective
shelf registration statement, previously filed with the Securities
and Exchange Commission. 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, when available, from BofA Merrill
Lynch, Attn: Prospectus Department, 4 World Financial Center,
New York, NY 10080,
dg.prospectus_requests@baml.com; 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 Ave., New York, NY 10010, telephone: (800) 221-1037;
or Deutsche Bank Securities, Prospectus Department, Harborside
Financial Center, 100 Plaza One, Jersey
City, New Jersey 07311-3988, telephone: (800) 503-4611,
prospectus.cpdg@db.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
ABOUT AGNC
AGNC 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").
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 has $23 billion in
assets under management and eight offices in the U.S., Europe and Asia. American Capital and its
affiliates will consider investment opportunities from $10 million to $300 million.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with regard to the closing
of 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:
Investors – (301) 968-9300
SOURCE American Capital Agency Corp.