BETHESDA, Md., Sept. 7,
2022 /PRNewswire/ -- AGNC Investment Corp. (Nasdaq:
AGNC) ("AGNC" or the "Company") announced today that it has priced
a public offering of 6,000,000 depositary shares with a liquidation
preference of $25.00 per share (the
"Depositary Shares"), for gross proceeds of $150 million before deducting underwriting
discounts and other estimated offering expenses. Each Depositary
Share represents a 1/1,000th interest in a share of the Company's
7.75% Series G Fixed-Rate Reset Cumulative Redeemable Preferred
Stock. In connection with the offering, the Company has granted the
underwriters an option for 30 days to purchase up to an additional
900,000 Depositary Shares. The Company intends to apply to list the
Depositary Shares on The Nasdaq Global Select Market under the
symbol "AGNCL." The offering is subject to customary closing
conditions and is expected to close on or about September 14, 2022.
AGNC intends to use the net proceeds from this offering to
finance the acquisition of Agency securities, non-Agency securities
(including credit risk transfer securities), other real
estate-related assets and hedging instruments, other investments
in, or related to the housing, mortgage or real estate markets, and
for other general corporate purposes, which may include the
redemption in whole or in part of AGNC's currently outstanding
7.000% Series C Fixed-to-Floating Rate Cumulative Redeemable
Preferred Stock.
Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC,
J.P. Morgan, RBC Capital Markets, UBS Investment Bank and Keefe,
Bruyette & Woods, A Stifel Company, are joint
book-running managers for the offering. BTIG and Citigroup are the
co-managers for the offering.
The offering is being made pursuant to AGNC's existing effective
shelf registration statement on Form S-3, previously filed with the
Securities and Exchange Commission (the "SEC"). A preliminary
prospectus supplement relating to this offering has been, and a
final prospectus supplement related to this offering will be, filed
with the SEC, and each will be available on the SEC's website at
www.sec.gov. Copies of the preliminary and final prospectus
supplements relating to this offering may be obtained, when
available, by contacting:
Morgan Stanley & Co. LLC
180 Varick Street
New York, NY 10014
Attention: Prospectus Department
Or by telephone: (866) 718-1649
Or by email: prospectus@morganstanley.com
BofA Securities, Inc.
NC1-004-03-43
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
Attention: Prospectus Department
Or by telephone: 800-294-1322
Or by email: dg.prospectus_requests@baml.com
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
Or by telephone: 866-471-2526
Or by email: prospectus-ny@ny.email.gs.com
J.P. Morgan Securities LLC
Attention: Investment Grade Syndicate Desk
383 Madison Avenue
New York, NY 10179
Or by telephone: 212-834-4533
RBC Capital Markets, LLC
Attention: Transaction Management
200 Vesey Street
8th Floor
New York, NY 10281-8098
Or by telephone: 866-375-6829
Or by email: rbcnyfixedincomeprospectus@rbccm.com
UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
Or by telephone: 888-827-7275
Keefe, Bruyette & Woods, Inc.
Attention: Capital Markets
787 Seventh Avenue
4th Floor
New York, NY 10019
Or by telephone: 800-966-1559
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
ABOUT AGNC INVESTMENT
CORP.
AGNC Investment Corp. is an internally-managed real estate
investment trust that invests primarily in residential
mortgage-backed securities for which the principal and interest
payments are guaranteed by a U.S. Government-sponsored enterprise
or a U.S. Government agency.
FORWARD-LOOKING
STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with regard to the size,
completion and timing 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. There can be no assurance that the
securities offering discussed above will be completed on the
anticipated 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,
any of which may be materially impacted by changes in the Federal
Reserve's bond buying program, approaches to address the size of
its bond portfolio or its monetary policy; legislative and
regulatory changes that could adversely affect the business of the
Company; and other factors, including those set forth in the
section titled "Risk Factors" of the prospectus supplements related
to this offering, the Company's Annual Report on Form 10-K for the
year ended December 31, 2021 and
other periodic reports and documents filed with the 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:
Investor Relations - (301) 968-9300
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SOURCE AGNC Investment Corp.