NEW YORK, Aug. 3, 2018
/PRNewswire/ -- MFA Financial, Inc. (NYSE: MFA) (the
"Company") announced the pricing of a public offering of 50,000,000
shares of its common stock, for expected gross proceeds of
approximately $389 million before
deducting underwriting discounts and commissions and estimated
offering expenses. The Company has granted the underwriters
an option to purchase up to an additional 7,500,000 shares of its
common stock. The offering is expected to close on
August 7, 2018, subject to the
satisfaction of customary closing conditions.
The Company intends to add the net proceeds of the offering to
its general corporate funds, which the Company may use for general
working capital purposes, including to invest in additional
residential mortgage-related assets, including but not limited to,
residential whole loans, MBS, CRT securities and investments
related to mortgage servicing rights, and for working capital,
which may include, among other things, the repayment of amounts
outstanding under repurchase agreements.
The underwriters propose to offer the shares of common stock
from time to time for sale in negotiated transactions or otherwise,
at market prices prevailing at the time of sale, at prices related
to such prevailing market prices or at negotiated prices.
Morgan Stanley and Wells Fargo Securities will serve as joint
book-running managers for the offering.
All shares of common stock will be offered under the Company's
existing shelf registration statement filed with the Securities and
Exchange Commission. The offering of these shares will be made only
by means of a prospectus and a related prospectus supplement, a
copy of which may be obtained by contacting:
Morgan Stanley & Co. LLC
180 Varick St., 2nd Floor, New York, New
York 10014
Attn: Prospectus Department
or
Wells Fargo Securities, Attention: Equity Syndicate
Department
375 Park Avenue
New York, New York, 10152,
Toll-free (800) 326-5897
cmclientsupport@wellsfargo.com
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the shares or any other securities,
nor shall there be any sale of such shares 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 MFA Financial, Inc.
MFA Financial, Inc. is a real estate investment trust primarily
engaged in the business of investing, on a leveraged basis, in
residential mortgage assets, including residential mortgage-backed
securities and residential whole loans.
Forward-Looking Statements
This press release contains forward looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Forward-looking statements
involve numerous risks and uncertainties. The Company's actual
results may differ from the Company's beliefs, expectations,
estimates and projections and, consequently, you should not rely on
these forward-looking statements as predictions of future events.
Forward-looking statements are not historical in nature and can be
identified by words such as "anticipate," "estimate," "will,"
"should," "expect," "believe," "intend," "seek," "plan" and similar
expressions or their negative forms, or by references to strategy,
plans, or intentions. Forward-looking statements are based on the
Company's beliefs, assumptions and expectations of the Company's
future performance, taking into account information currently
available to it. No assurance can be given that the offering
discussed above will be consummated, or that the net proceeds of
the offering will be used as indicated. Consummation of the
offering and the application of the net proceeds of the offering
are subject to numerous possible events, factors and conditions,
many of which are beyond the control of the Company and not all of
which are known to it, including, without limitation, market
conditions and those described under the heading "Risk Factors" in
the prospectus supplement relating to the offering and in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2017, which can be
accessed at the Securities and Exchange Commission's website
at www.sec.gov. All forward-looking statements speak only as
of the date on which they are made. New risks and uncertainties
arise over time, and it is not possible to predict those events or
how they may affect the Company. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise, except as required by law.
Investor Contact:
InvestorRelations@mfafinancial.com
MFA Investor
Relations
212-207-6488
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SOURCE MFA Financial, Inc.