|
|
Article: Thornburg Mortgage Raises $212 Million in Equity Offerings.
- Article from:
- Business Wire
- Article date:
- January 15, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SANTA FE, N.M. -- Thornburg Mortgage, Inc. (NYSE:TMA), announced today that it priced concurrent public offerings of 7,000,000 shares of common stock at $8.00 per share and 8,000,000 shares of its existing 10% Series F Cumulative Convertible Redeemable Preferred Stock at $19.50 per share.
Gross proceeds from these offerings were $212 million. Aggregate net proceeds to the Company from both of these offerings were $200.8 million. Thornburg Mortgage intends to use the majority of the net proceeds to finance the acquisition or origination of adjustable rate mortgage (ARM) assets. The Company will use the remainder of the proceeds for liquidity needs and working ...