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Press release from GlobeNewswire (a Nasdaq OMX company)

ARMOUR Residential REIT, Inc. Announces Full Exercise and Closing of Over-Allotment Option

Wednesday, June 08, 2011

ARMOUR Residential REIT, Inc. Announces Full Exercise and Closing of Over-Allotment Option07:52 EDT Wednesday, June 08, 2011VERO BEACH, Fla., June 8, 2011 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE:ARR) and (NYSE Amex:ARR.WS) ("ARMOUR" or the "Company") announced today the full exercise and closing of the underwriters' over-allotment option to purchase an additional 2,400,000 shares of common stock in connection with ARMOUR's recently announced underwritten public offering. After giving effect to the full exercise of the over-allotment option, ARMOUR has sold a total of 18,400,000 shares of its common stock in the offering, raising approximately $131.2 million in net proceeds after deducting underwriting discounts and commissions and estimated offering expenses payable by ARMOUR. Deutsche Bank Securities Inc. acted as the sole bookrunning manager of the offering. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex:LTS) acted as lead manager and JMP Securities LLC and Sandler O'Neill + Partners, L.P. acted as co-managers of the offering. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 4, 2011. The underwritten offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, or by calling (800) 503-4611 or emailing a request to prospectus.cpdg@db.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.ARMOUR Residential REIT, Inc. ARMOUR is a Maryland corporation that invests primarily in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage-backed securities ("RMBS") issued or guaranteed by U.S. Government-chartered entities. ARMOUR is externally managed and advised by ARMOUR Residential Management LLC ("ARRM"). ARMOUR Residential REIT, Inc. has elected to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes, commencing with ARMOUR's taxable year ended December 31, 2009.Safe Harbor This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.CONTACT: Jeffrey Zimmer Co-Chief Executive Officer, President and Co-Vice Chairman ARMOUR Residential REIT, Inc. (772) 617-4340