U.S. REIT AGNC Investment to raise $690.8 million share offering

U.S. real estate investment trust (REIT) AGNC Investment Corp. announced that it aims to raise a $690.8 million public offering through the issue of 40 million shares of common stock.

AGNC intends to use new funds for targeted acquisitions of various securities. This consists of both agency securities and non-agency securities, including credit risk transfer securities.

The company will also allocate the proceeds for general corporate purposes. In addition, it plans to increase its investment in real estate-related assets and hedging instruments.

Further, the underwriters have been granted a 30-day option to purchase up to an additional 6 million common shares. The offering, subject to customary closing conditions, will likely close on or around November 19, 2018.