BETHESDA, Md., Aug. 10 /PRNewswire-FirstCall/ -- American Capital Agency
Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that it priced
a public offering of 3.75 million shares of its common stock at a public
offering price of $23.30 per share for total net proceeds of approximately $83
million. The Company has granted the underwriters an option to purchase up to
an additional 562,500 shares to cover overallotments, if any. The offering is
subject to customary closing conditions and is expected to close on Friday,
August 14, 2009.
AGNC expects to use the net proceeds from this offering to acquire
additional agency securities as market conditions warrant and for general
Citi and Deutsche Bank Securities are joint book-running managers for the
offering. Credit Suisse, JMP Securities and UBS Investment Bank are the
co-managers for the offering.
The offering will be made under AGNC's existing shelf registration
statement filed with the Securities and Exchange Commission. This press
release is neither an offer to sell nor a solicitation of an offer to buy
shares of common stock. The offering of these securities will be made only by
means of a prospectus and a related prospectus supplement. When available,
copies of the prospectus and prospectus supplement may be obtained from Citi,
Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220;
telephone: (800) 831-9146 or Deutsche Bank Securities, Prospectus Department,
Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey
07311-3988; telephone: (800) 503-4611.
AGNC is a REIT that invests exclusively in agency pass-through securities
and collateralized mortgage obligations for which the principal and interest
payments are guaranteed by a U.S. Government agency or a U.S.
Government-sponsored entity. The Company is externally managed and advised by
an affiliate of American Capital, Ltd. ("American Capital").
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset
manager. American Capital, both directly and through its asset management
business, originates, underwrites and manages investments in middle market
private equity, leveraged finance, real estate and structured products.
Founded in 1986, American Capital has $11 billion(1) in capital resources
under management and ten offices in the U.S., Europe and Asia.
This press release contains forward-looking statements. Forward-looking
statements are based on estimates, projections, beliefs and assumptions of
management of the Company at the time of such statements and are not
guarantees of future performance. Forward-looking statements involve risks and
uncertainties in predicting future results and conditions. Actual results
could differ materially from those projected in these forward-looking
statements due to a variety of factors, including, without limitation, changes
in interest rates, changes in the yield curve, changes in prepayment rates,
the availability and terms of financing, changes in the market value of our
assets, general economic conditions, market conditions, conditions in the
market for agency securities, and legislative and regulatory changes that
could adversely affect the business of the Company. Certain factors that could
cause actual results to differ materially from those contained in the
forward-looking statements, are included in the Company's periodic reports
filed with the Securities and Exchange Commission ("SEC"). Copies are
available on the SEC's website, www.sec.gov. The Company disclaims any
obligation to update or revise any forward-looking statements based on the
occurrence of future events, the receipt or new information, or otherwise.
Investors of American Capital Agency Corp.
(1) As of June 30, 2009.
SOURCE: American Capital Agency Corp.