ATLANTA, Feb. 5, 2019 /PRNewswire/ -- Invesco Mortgage Capital Inc. (the "Company") (IVR) announced today that the public offering of 14 million shares of its common stock has priced at $15.73 per share, resulting in gross proceeds of $220.2 million, before deducting underwriting discounts and estimated offering expenses. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 2.1 million shares of the Company's common stock. The offering is expected to close on February 7, 2019.
The Company expects to use the net proceeds from this offering to purchase assets within its target asset classes, subject to its investment guidelines and to the extent consistent with maintaining its REIT qualification, and other general corporate purposes.
Morgan Stanley, Citigroup and Credit Suisse are acting as joint book-running managers for the offering.
The Company is conducting the offering pursuant to an effective registration statement on Form S-3ASR dated March 29, 2016 (Commission File No. 333-210454). The offering will be made by means of a prospectus supplement and accompanying base prospectus that has been filed with the Securities and Exchange Commission (the "SEC"). These documents are available for free on EDGAR on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus may also be obtained by contacting:
180 Varick Street, 2nd Floor
New York, New York 10014
1155 Long Island Avenue
Edgewood, NY 11717
Credit Suisse Securities (USA) LLC
Eleven Madison Avenue, 3rd Floor
New York, NY 10010
Attention: Prospectus Department
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust that primarily focuses on investing in, financing and managing residential and commercial mortgage-backed securities and other mortgage-related assets. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Advisers, Inc., a registered investment advisor and an indirect, wholly-owned subsidiary of Invesco Ltd., a leading independent global investment management firm.
Cautionary Notice Regarding Forward-Looking Statements
This press release may include statements and information that constitute "forward-looking statements" within the meaning of the U.S. securities laws as defined in the Private Securities Litigation Reform Act of 1995, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about the size of the offering described above, the Company's ability to complete such offering on desirable terms desirable, or at all, and the use of the net proceeds therefrom. The words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions and future or conditional verbs such as "will," "may," "could," "should," and "would," and any other statement that necessarily depends on future events, are intended to identify forward-looking statements.
The forward-looking statements are based on management's beliefs, assumptions and expectations of the Company's future performance, taking into account all information currently available. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company. For example, the closing of the offering described above is subject to closing conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the net proceeds of the offering may not be used as indicated. Some of the other factors are described in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on the SEC's website at www.sec.gov, under the headings "Risk Factors," "Forward-Looking Statements," "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."
Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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