U.S. AG Mortgage Investment Trust has priced its underwritten public offering of 3 million common shares at $17.05 apiece, for total proceeds of about $51.2 million.
The company granted the underwriters a 30-day option to purchase up to 450,000 additional shares at the same offering price.
AG Mortgage Investment Trust plans to use the proceeds for planned acquisitions of residential mortgage loans, commercial mortgage loans and other target assets, along with general working capital.
The underwritten public offering is expected to be completed on February 14.