BETHESDA, Md., Dec. 9, 2010 /PRNewswire-FirstCall/ -- American
Capital Agency Corp. (Nasdaq: AGNC) (“AGNC” or the “Company”)
announced today that it priced a public offering of 8,000,000
shares of common stock for total net proceeds of approximately
$219 million. Citi and Deutsche Bank
Securities acted as underwriters for the offering. In
connection with the offering, the Company has granted the
underwriters an option for 30 days to purchase up to an additional
1,200,000 shares of common stock to cover overallotments, if any.
The offering is subject to customary closing conditions and is
expected to close on December 14,
2010.
AGNC expects to use the net proceeds from this offering to
acquire additional agency securities as market conditions warrant
and for general corporate purposes.
The offering will be made pursuant to AGNC's existing effective
shelf registration statement, previously filed with the Securities
and Exchange Commission. The offering of these securities
will be made only by means of a prospectus and a related prospectus
supplement. Copies of the prospectus and prospectus
supplement may be obtained from Citi, Brooklyn Army Terminal, 140
58th Street, 8th Floor, Brooklyn, New
York 11220; telephone: (800) 831-9146 or Deutsche Bank
Securities, Prospectus Department, Harborside Financial Center, 100
Plaza One, Jersey City, New Jersey
07311-3988; telephone: (800) 503-4611.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
ABOUT AGNC
AGNC is a REIT that invests in agency pass-through securities
and collateralized mortgage obligations for which the principal and
interest payments are guaranteed by a U.S. Government agency or a
U.S. Government-sponsored entity. The Company is externally managed
and advised by American Capital Agency Management, LLC, an
affiliate of American Capital, Ltd. ("American Capital").
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and
global asset manager. American Capital, both directly and through
its asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate and structured products. Founded in 1986,
American Capital has $18 billion in
capital resources under management and eight offices in the U.S.,
Europe and Asia. American Capital and its
affiliates will consider investment opportunities from $5 million to $100 million.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with regard to the closing
of the Company's securities offering and the anticipated use of the
net proceeds. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform
Act of 1995. No assurance can be given that the securities
offering discussed above will be completed on the terms described,
or at all, or that the net proceeds of the offering will be used as
indicated. Completion of the securities offering on the terms
described, and the application of net proceeds, are subject to
numerous conditions, many of which are beyond the control of the
Company, including, without limitation, changes in interest rates;
changes in the yield curve; changes in prepayment rates; the
availability and terms of financing; changes in the market value of
our assets; general economic conditions; market conditions;
conditions in the market for agency securities; legislative and
regulatory changes that could adversely affect the business of the
Company; and other factors, including those set forth in the Risk
Factors section of the Company's periodic reports filed with the
Securities and Exchange Commission ("SEC"). Copies are available on
the SEC's website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
CONTACT:
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Investors -- (301)
968-9300
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SOURCE American Capital Agency Corp.