Yeah, they screwed up with the late exdividend. The price would have recovered in a better market and they'd have gotten a better price. Now it will be lucky to get above book by pennies. Planning cost them ten million dollars.
Approximate date of commencement of proposed sale to the public:
As soon as practicable after the effective date of this registration statement
Title of Each Class of Securities To Be Registered
Offering Price (1)
Registration Fee (1)(2)
Common Stock, par value $0.01
just talked with IR and confirmed that this is just a shelf offering and that no decision has been made re: proceeding with a secondary. He also acknowledged that mgmt would be reluctant to pursue a non-accretive offering - which should make one unlikely @ the current share price. He also acknowledged that it wouldn't be great timing to buy new mbs with rates down and prices high. Of course he also made no assurances and gave me the normal spiel re: the advantages of more liquidity and spreading costs over a larger portfolio. In short - my thought is that mgmt is definitely 'thinking' about an SPO and they want to be ready - but I'd be surprised that they pull the trigger right now. Can never know for sure though ...