ATLANTA, Nov. 5, 2024
/PRNewswire/ -- Invesco Mortgage Capital Inc. (the "Company")
(NYSE: IVR) announced today that it intends to redeem all 4,247,989
of the outstanding shares of the Company's 7.75% Fixed-to-Floating
Series B Cumulative Redeemable Preferred Stock, par value
$0.01 per share ("Series B Preferred
Stock") on December 27, 2024 (the
"Redemption Date"). Shares of the Series B Preferred Stock are
currently listed on the New York Stock Exchange under the symbol
"IVR PrB."
All outstanding shares of Series B Preferred Stock will be
redeemed at a cash redemption price of $25.00 per share, plus any accrued and unpaid
dividends (whether or not declared) up to, but not including, the
Redemption Date (the "Redemption Price"). Upon redemption, the
shares of Series B Preferred Stock will no longer be deemed
outstanding and all rights with respect to the shares of Series B
Preferred Stock shall cease and terminate, except only the right of
the holders thereof to receive the Redemption Price, without
interest, from the redemption and payment agent.
All issued and outstanding shares of Series B Preferred Stock
are held in book-entry form through The Depository Trust Company
("DTC"). The shares of Series B Preferred Stock will be redeemed in
accordance with the procedures of DTC. Payment to DTC for the
shares of Series B Preferred Stock will be made by Computershare
Trust Company N.A., which is serving as redemption and payment
agent (the "Redemption Agent"). The Redemption Agent's address is
as follows:
Computershare Trust Company N.A.
150 Royall Street
Canton, MA 02021
Attn: Corporate Actions
This press release does not constitute a notice of redemption
under the Company's Articles Supplementary governing the shares of
Series B Preferred Stock.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust
that primarily focuses on investing in, financing and managing
mortgage-backed securities and other mortgage-related assets.
Invesco Mortgage Capital Inc. is externally managed and advised by
Invesco Advisers, Inc., a registered investment adviser and an
indirect wholly-owned subsidiary of Invesco Ltd., a leading
independent global investment management firm.
Cautionary Notice Regarding Forward-Looking
Statements
This press release may include statements and information that
constitute "forward-looking statements" within the meaning of the
U.S. securities laws as defined in the Private Securities
Litigation Reform Act of 1995, as amended, and such statements are
intended to be covered by the safe harbor provided by the same.
Forward-looking statements are subject to substantial risks and
uncertainties, many of which are difficult to predict and are
generally beyond the Company's control. These forward-looking
statements include information about planned redemption of the
Series B Preferred Stock and the Company's ability to complete such
redemption, as well as any other statements other than statements
of historical fact. The words "believe," "expect," "anticipate,"
"estimate," "plan," "continue," "intend," "should," "may" or
similar expressions and future or conditional verbs such as "will,"
"may," "could," "should," and "would," and any other statement that
necessarily depends on future events, are intended to identify
forward-looking statements.
The forward-looking statements are based on management's
beliefs, assumptions and expectations of the Company's future
performance, taking into account all information currently
available. You should not place undue reliance on these
forward-looking statements. These beliefs, assumptions and
expectations can change as a result of many possible events or
factors, not all of which are known to the Company. For example,
the redemption described above is contingent on the Company's
continuing ability to pay the Redemption Price. If the Company is
unable to pay the Redemption Price, the redemption may not occur as
described above. Some of the other factors are described in the
Company's annual report on Form 10-K and quarterly reports on Form
10-Q, which are available on the Securities and Exchange
Commission's website at www.sec.gov, under the headings "Risk
Factors," "Forward-Looking Statements," "Business" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations."
Any forward-looking statement speaks only as of the date on
which it is made. New risks and uncertainties arise over time, and
it is not possible to predict those events or how they may affect
the Company. Except as required by law, the Company is not
obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Invesco Mortgage Capital Inc.
Investor Relations Contact:
Greg Seals, 404-439-3323
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SOURCE Invesco Mortgage Capital Inc.