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VERO BEACH, Fla., Oct. 3, 2012 (GLOBE NEWSWIRE) -- JAVELIN Mortgage Investment Corp. (NYSE:JMI) ("JAVELIN" or the "Company") announced today that it is raising an aggregate of $150 million in gross proceeds in its initial public offering and concurrent private placement. The Company has priced its initial public offering of 7,250,000 shares of common stock at $20.00 per share, raising $145 million in gross proceeds. JAVELIN has also granted the underwriters a 30-day option to purchase up to an additional 1,087,500 shares of common stock to cover over-allotments, if any.
The Company is also selling 250,000 shares of common stock for $20.00 per share in a concurrent private placement, raising $5 million in gross proceeds.
Shares of JAVELIN's common stock are expected to begin trading today on the New York Stock Exchange under the ticker symbol "JMI." The offering and concurrent private placement are expected to close on October 9, 2012.
The Company intends to use the proceeds from the offering and concurrent private placement to acquire its target assets, which consist of residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored entities ("Agency RMBS"), residential mortgage-backed securities that are not issued or guaranteed by U.S. Government-sponsored entities ("non-Agency RMBS") and other mortgage-related investments, in accordance with its objectives and strategies, as market conditions warrant.
Deutsche Bank Securities, Citigroup, Barclays and Credit Suisse are the joint book runners for the offering. JMP Securities, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE:LTS), Oppenheimer & Co. Inc. and Mitsubishi UFJ Securities are co-lead managers and Aegis Capital Corp., Maxim Group LLC and National Securities Corporation are co-managers.
A registration statement relating to the offered shares of common stock has been filed with the Securities and Exchange Commission ("SEC") and declared effective. The initial public offering is being made only by means of a preliminary prospectus. Copies of the preliminary prospectus for the proposed offering may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Telephone: (800) 503-4611, or by emailing firstname.lastname@example.org; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, or by emailing email@example.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing firstname.lastname@example.org;orCredit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, Telephone: (800) 221-1037, or by emailing email@example.com.