Annaly Capital Management, Inc. Announces Pricing of Public Offering of Common Stock
02 Août 2022 - 1:30PM
Business Wire
Annaly Capital Management, Inc. (NYSE: NLY) (the “Company” or
“Annaly”) today announced that it has priced a public offering of
100,000,000 shares of its common stock for expected gross proceeds
of approximately $665 million before deducting estimated offering
expenses. The offering is subject to customary closing conditions
and is expected to close on or about August 3, 2022.
In connection with the offering, Annaly has granted the
underwriters a thirty-day option to purchase up to an additional
15,000,000 shares of common stock.
Annaly intends to use the net proceeds of this offering to
acquire targeted assets under the Company’s capital allocation
policy, which may include further diversification of its
investments in Agency assets as well as residential credit assets.
These investments include, without limitation, Agency MBS pools,
to-be-announced forward contracts, mortgage servicing rights and
residential credit assets (including residential mortgage loans).
Annaly also intends to use the net proceeds for general corporate
purposes, including, without limitation, to pay down obligations
and other working capital items.
Goldman Sachs & Co. LLC, Barclays, BofA Securities, J.P.
Morgan, RBC Capital Markets, UBS Investment Bank and Wells Fargo
Securities are acting as joint book-running managers and Academy
Securities and Roberts & Ryan are acting as co-managers for the
offering.
The offering is being conducted pursuant to the Company’s
currently effective shelf registration statement, which was
previously filed with the Securities and Exchange Commission (the
“SEC”). A prospectus supplement related to the offering and the
accompanying prospectus have been filed with the SEC. Before you
invest in the offering, you should read the prospectus supplement
and the accompanying prospectus and other documents Annaly has
filed with the SEC for more complete information about Annaly and
the offering. You may obtain these documents for free by visiting
EDGAR on the SEC website at http://www.sec.gov. Alternatively,
copies of these documents may be obtained by contacting:
Goldman Sachs & Co. LLC Attention: Prospectus Department 200
West Street New York, NY 10282 Telephone: (866) 471-2526 Or by
email: prospectus-ny@ny.email.gs.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 Annaly
Annaly is a leading diversified capital manager with investment
strategies across mortgage finance. Annaly’s principal business
objective is to generate net income for distribution to its
stockholders and to optimize its returns through prudent management
of its diversified investment strategies. Annaly is internally
managed and has elected to be taxed as a real estate investment
trust, or REIT, for federal income tax purposes.
Forward-Looking Statements
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking
statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a
future period or periods or by the use of forward-looking
terminology, such as “may,” “will,” “should,” “estimate,”
“project,” “believe,” “expect,” “anticipate,” “continue,” or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth
in forward-looking statements due to a variety of factors,
including, but not limited to, risks and uncertainties related to
the COVID-19 pandemic, including as related to adverse economic
conditions on real estate-related assets and financing conditions
(and our outlook for our business in light of these conditions,
which is uncertain); changes in interest rates; changes in the
yield curve; changes in prepayment rates; the availability of
mortgage-backed securities and other securities for purchase; the
availability of financing and, if available, the terms of any
financing; changes in the market value of our assets; changes in
business conditions and the general economy; operational risks or
risk management failures by us or critical third parties, including
cybersecurity incidents; our ability to grow our residential credit
business; credit risks related to our investments in credit risk
transfer securities, residential mortgage-backed securities, and
related residential mortgage credit assets; risks related to
investments in mortgage servicing rights; our ability to consummate
any contemplated investment opportunities; changes in government
regulations or policy affecting our business; our ability to
maintain our qualification as a REIT for U.S. federal income tax
purposes; and our ability to maintain our exemption from
registration under the Investment Company Act. For a discussion of
the risks and uncertainties which could cause actual results to
differ from those contained in the forward-looking statements, see
“Risk Factors” in our most recent Annual Report on Form 10-K and
any subsequent Quarterly Reports on Form 10-Q. The Company does not
undertake, and specifically disclaims any obligation, to publicly
release the result of any revisions which may be made to any
forward-looking statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such
statements, except as required by law.
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Annaly Investor Annaly Capital Management, Inc. Investor
Relations 1-888-8Annaly investor@annaly.com
Annaly Capital Management (NYSE:NLY)
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