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By Preferred Stock Channel Staff, updated Thursday, July 17, 5:10 PM
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Free CIM Email Alerts:
Preferred Stock Offerings
| This Slide: #304 of 645 |
Slide #304. Chimera Investment Corporation — Preferred Stock Offering
Company:
Chimera Investment Corporation (NYSE:CIM)
Date announced:
2/22/2017
Shares Offered:
12,000,000
Date of Pricing:
2/22/2017
Price Per Share:
$25.00
Preferred Stock Offering Details:
Chimera Investment Corporation (NYSE:CIM) (the "Company") today announced the pricing of its underwritten public offering of 12,000,000 shares of its 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $300 million, before deducting the underwriting discount and other estimated offering expenses. The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "CIM PRB." The offering is expected to close on February 27, 2017, subject to customary closing conditions. The Company has granted the underwriters an option for 30 days to purchase up to an additional 1,800,000 shares of the Series B Preferred Stock to cover over-allotments, if any.
Chimera Investment Corporation is a real estate investment trust (REIT). Co. is primarily engaged in the business of investing in a diversified portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), and other real estate-related assets. Co. invests in residential mortgage loans through secondary market purchases from banks, non-bank financial institutions, and agencies. Its residential mortgage loan portfolio is comprised of residential mortgage loans, business purpose loans, and investor loans.
Preferreds: CIM.PRA, CIM.PRB, CIM.PRC, CIM.PRD
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