Anworth Mortgage Asset Corp. to offer 9M shares
Anworth Mortgage Asset Corp. (NYSE: ANH) said this morning that it will offer $9 million shares of its common stock at $6.70 per share for gross proceeds of $60.3 million.
The small cap said it intends to use the proceeds to acquire agency mortgage-backed securities. After deducting underwriting discounts and estimated expenses, net proceeds from the offering are estimated to be approximately $57 million.
Additionally, Anworth granted its underwriters a 30-day option to purchase up to an additional 1.35 million shares of common stock to cover over-allotments.
Anworth expects the offering to close on Dec. 5.
Shares of Anworth Mortgage (ANH) edged up 3.7%, or $0.25, to $7 ahead of the opening. Shares of Anworth Mortgage have been trading in the range of $3.05 to $10.06 for the past 52 weeks.
