ARLINGTON, Va., March 11, 2015 /PRNewswire/ -- Arlington
Asset Investment Corp. (NYSE: AI) (the "Company") announced today
that it has priced an underwritten registered public offering of
$32,000,000 aggregate principal
amount of 6.75% Senior Notes due 2025 (the "Notes") at 100% of the
principal amount. The Company has granted the underwriters a 30-day
option to purchase up to an additional $4,800,000 aggregate principal amount of Notes in
connection with the offering solely to cover overallotments.
RBC Capital Markets is acting as book-running manager for the
offering. Compass Point, Ladenburg Thalmann, Maxim Group LLC,
MLV & Co., Sterne, Agee & Leach, Inc. and Wunderlich
Securities are acting as co-managers for the offering. The offering
is subject to customary closing conditions and is expected to close
on Wednesday, March 18, 2015.
The Company expects to use the net proceeds of this offering to
acquire certain of the Company's target assets, which are expected
to consist primarily of agency-backed mortgage-backed securities
("MBS") and may also include private-label MBS. The Company expects
to borrow against the assets that it acquires with the net proceeds
of this offering through repurchase agreements and to use the
proceeds of the borrowings to acquire additional target assets. The
Company may also use the net proceeds for general working capital
purposes.
The Notes are being offered under the Company's existing shelf
registration statement on Form S-3, which was declared effective by
the Securities and Exchange Commission. The offering of these Notes
will be made only by means of a prospectus supplement and
accompanying base prospectus, which will be filed with the
Securities and Exchange Commission. Copies of the prospectus
supplement and accompanying base prospectus related to this
offering may be obtained by contacting RBC Capital Markets at:
RBC Capital Markets, LLC
Attention: Investment Grade Syndicate Desk
Three World Financial Center, 200 Vesey Street, 8th Floor
New York, NY 10281
telephone: 866-375-6829
e-mail: rbcnyfixedincomeprospectus@rbccm.com
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the offered Notes or any other
securities, nor shall there be any sale of such Notes or any other
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 other
jurisdiction.
About Arlington Asset Investment Corp.
Arlington Asset Investment Corp. (NYSE: AI) is a principal
investment firm that currently invests primarily in
mortgage-related and other assets. The Company is
headquartered in the Washington,
D.C. metropolitan area.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These include statements
regarding the Company's planned offering of the Notes and the
anticipated use of proceeds. Forward-looking statements can
be identified by forward-looking language, including words such as
"believes," "expects," "anticipates," "estimates," "plans,"
"continues," "intends," "should," "may" or and similar
expressions. Due to known and unknown risks, including the
risk that the assumptions on which the forward-looking statements
are based prove to be inaccurate, actual results may differ
materially from expectations or projections. These risks also
include those described in the Company's Annual Report on Form 10-K
for the year ended December 31, 2014,
as amended, which has been filed with the Securities and
Exchange Commission. Readers of this press release are
cautioned to consider these risks and uncertainties and not to
place undue reliance on any forward-looking statements. The
Company does not undertake any obligation to update any
forward-looking statement, whether written or oral, relating to
matters discussed in this press release, except as may be required
by applicable securities laws.
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SOURCE Arlington Asset Investment Corp.