Arlington Asset Investment Prices $75.35 Mln Stock Offering

(RTTNews) - Arlington Asset Investment Corp. (AI) said Tuesday that it has priced an underwritten registered public offering of 2.75 million shares of Class A common stock at a public offering price of $27.40 per share.

The company has granted the underwriters an option for 30 days to purchase up to an additional 412,500 shares of Class A common stock.

The offering is expected to close on Friday, March 28.

The company expects to use the net proceeds of this offering to acquire certain of its target assets, including residential mortgage-backed securities issued by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities and MBS issued by private organizations. The company may also use the net proceeds for general working capital purposes.