Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, February 12, 4:45 AM
Slide #529. Capstead Mortgage Corporation — Preferred Stock Offering
Company: |
Capstead Mortgage Corporation (CMO) |
Date announced: |
5/8/2013 |
Security type: |
7.50% Series E Cumulative Redeemable Preferred Stock (CMO.PRE) |
Shares Offered: |
6,000,000 |
Date of Pricing: |
5/8/2013 |
Price Per Share: |
$25 |
Preferred Stock Offering Details: |
Capstead Mortgage Corporation (NYSE:CMO) ("Capstead" or the "Company") today announced its plans to make a public offering of shares of its Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock"). The Company intends to list the Series E Preferred Stock on the NYSE under the symbol "CMOPRE." The Company intends to grant the underwriters a 30-day option to purchase additional shares of Series E Preferred Stock to cover over-allotments, if any. --updated 5/8 - Capstead Mortgage Corporation (NYSE:CMO) ("Capstead" or the "Company") announced that it priced an underwritten public offering of 6 million shares of its 7.50% Series E Cumulative Redeemable Preferred Stock (the "7.50% Series E Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $150 million, before deducting the underwriting discount and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of 7.50% Series E Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on or about May 13, 2013. |
Capstead Mortgage operates as a self-managed real estate investment trust. Co.'s investment strategy involves managing and earning a financing spread on a portfolio of residential mortgage pass-through securities consisting primarily of adjustable-rate mortgage securities issued and guaranteed by government-sponsored enterprises, either Federal National Mortgage Association or Federal Home Loan Mortgage Corporation, or by an agency of the federal government, Government National Mortgage Association.
Preferreds: CMO.PRA, CMO.PRB
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