AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced today that it has priced a public offering of 3,750,000 shares of its common stock for total estimated gross proceeds of approximately $89 million. The Company has granted the underwriters a 30-day option to purchase up to 562,500 additional shares of its common stock. The offering is subject to customary closing conditions and is expected to close on December 26, 2012.
The Company expects to use the net proceeds from the offering to make additional acquisitions of our target assets, which include residential mortgage-backed securities and other real estate-related assets, and for general corporate purposes.
Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Nomura and Stifel Nicolaus Weisel are acting as book-running managers for the offering. JMP Securities LLC, Wunderlich Securities and Maxim Group LLC are acting as co-managers.
The offering will be made pursuant to the Company's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on July 20, 2012. This press release is neither an offer to sell nor a solicitation of an offer to buy shares of common stock. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, New York 10010, Attention: Prospectus Department or by calling (800) 221-1037 or emailing firstname.lastname@example.org; BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing email@example.com; Nomura Securities International, Inc., by mail at Attention: Equity Syndicate Department, 2 World Financial Center, New York, NY 10281 or by telephone at (212) 667-9000; and Stifel Nicolaus Weisel, Attn: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21201 or by calling (855) 300-7136.This press release and the prospectus supplement and the accompanying prospectus shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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