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SEC Filings

424B5
AGNC INVESTMENT CORP. filed this Form 424B5 on 11/16/2018
Entire Document
 


UNDERWRITING

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as the joint book-running managers and representatives of the underwriters named below. Subject to the terms and conditions stated in the underwriting agreement dated the date of this prospectus supplement, each underwriter named below has severally agreed to purchase, and we have agreed to sell to that underwriter, the number of shares of our common stock set forth opposite the underwriter’s name.
 
 
 
 
 
 
Underwriter
 
Number of Shares
 
Credit Suisse Securities (USA) LLC
 
 
6,000,000

 
Citigroup Global Markets Inc.
 
 
6,000,000

 
J.P. Morgan Securities LLC
 
 
6,000,000

 
Morgan Stanley & Co. LLC
 
 
6,000,000

 
Goldman Sachs & Co. LLC
 
 
5,000,000

 
Merrill Lynch, Pierce, Fenner & Smith Incorporated
 
 
5,000,000

 
Keefe, Bruyette & Woods, Inc.
 
 
3,000,000

 
RBC Capital Markets, LLC
 
 
3,000,000

 
Total
 
 
40,000,000

 
 
 
 
 
 
The underwriting agreement provides that the obligations of the underwriters to purchase the shares included in this offering are subject to approval of legal matters by counsel and to other conditions. The underwriters are obligated to purchase all the shares (other than those covered by the option to purchase additional shares described below) if they purchase any of the shares. The offering of the shares by the underwriters is subject to receipt and acceptance and subject to the underwriters’ right to reject any order in whole or in part.

The underwriters have agreed to purchase the shares of common stock from us at a price of $17.091 per share, which will result in net proceeds to us, after deducting estimated expenses related to this offering, of approximately $683.4 million assuming no exercise of the option to purchase additional shares granted to the underwriters, and $785.9 million assuming full exercise of the option to purchase additional shares.

The underwriters propose to offer the shares of common stock offered hereby from time to time for sale in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt of acceptance by them and subject to their right to reject any order in whole or in part. The underwriters may effect such transactions by selling the shares of common stock to or through dealers and such dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or purchasers of shares of common stock for whom they may act as agents or to whom they may sell as principal. The difference between the price at which the underwriters purchase shares and the price at which the underwriters resells such shares may be deemed to be underwriting compensation.

We have granted to the underwriters an option, exercisable for 30 days from the date of this prospectus supplement, to purchase up to 6,000,000 additional shares of our common stock at $17.091 per share. To the extent the option is exercised, each underwriter must purchase a number of additional shares approximately proportionate to that underwriter’s initial purchase commitment. Any shares issued or sold under the option will be issued and sold on the same terms and conditions as the other shares that are the subject of this offering.

We and each of our executive officers and directors, have agreed that, for a period of 30 days from the date of this

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