Arlington Asset Investment Corp. Announces Proposed Senior Notes Offering
Arlington Asset Investment Corp. (NYSE: AAIC) announced a proposed offering of Senior Notes due 2026, subject to market conditions. The company plans to use the net proceeds to redeem its 6.625% Senior Notes due 2023 and for general capital purposes. The offering will be managed by Ladenburg Thalmann & Co. Inc. as the book-running manager, with others as co-managers. This offering is made under the existing shelf registration statement and does not constitute an offer to sell the Notes in jurisdictions where it would be illegal without proper registration.
- Proposed offering may strengthen capital structure by redeeming higher interest debt.
- Utilization of proceeds for general capital purposes could enhance investment opportunities.
- Reliance on market conditions, which could delay or prevent the offering.
- Existing debt remains until the offering is completed and funds are raised.
ARLINGTON, Va., July 6, 2021 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AAIC) (the "Company") announced today that it plans to offer, subject to market and other conditions, its Senior Notes due 2026 (the "Notes") in an underwritten registered public offering. The Company expects to grant the underwriters a 30-day option to purchase additional Notes solely to cover over-allotments, if any.
The Company expects to use the net proceeds of this offering to redeem all or a portion of its
Ladenburg Thalmann & Co. Inc. is acting as book-running manager of the offering and Compass Point Research & Trading, LLC and JonesTrading Institutional Services LLC are acting as co-managers of the offering.
The Notes will be offered under the Company's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission. The offering of these Notes will be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the Securities and Exchange Commission. Before you invest, you should read the prospectus supplement and accompanying prospectus along with other documents that the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering. Copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained, when available, by contacting Ladenburg Thalmann & Co. Inc. at the address below:
Ladenburg Thalmann & Co. Inc.
640 Fifth Avenue, 4th Floor
New York, New York 10019
telephone: 1-800-573-2541
email: prospectus@ladenburg.com
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered Notes or any other securities, nor shall there be any sale of such Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About the Company
The Company currently invests in mortgage-related and other assets and has elected to be taxed as a REIT. The Company is headquartered in the Washington, D.C. metropolitan area.
Cautionary Notice Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking as defined by the Private Securities Litigation Reform Act of 1995. For example, the fact that the offering has launched may imply that the offering will price, but pricing is subject to conditions customary in transactions of this type and may be delayed or may not occur at all. No assurance can be given that the offering discussed above will be completed on the terms described or at all or that the net proceeds of this offering will be used as described. Forward-looking statements can be identified by forward-looking language, including words such as "believes," "expects," "anticipates," "estimates," "plans," "continues," "intends," "should", "may," and similar expressions. Due to known and unknown risks, including the risk that the assumptions on which the forward-looking statements are based prove to be inaccurate, actual results may differ materially from expectations or projections. These risks also include those described in the Company's most recent Annual Report on Form 10-K and any other documents filed by the Company with the Securities and Exchange Commission from time to time, which are available from the Company and from the Securities and Exchange Commission, and you should read and understand these risks when evaluating any forward-looking statement. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.
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SOURCE Arlington Asset Investment Corp.
FAQ
What is the purpose of Arlington Asset Investment Corp.'s proposed Senior Notes offering?
When is the due date for the proposed Senior Notes from Arlington Asset Investment Corp.?
Who is managing the Senior Notes offering for Arlington Asset Investment Corp.?
What impact does the proposed offering have on Arlington Asset Investment Corp.'s debt?
Is the Senior Notes offering from Arlington Asset Investment Corp. guaranteed to occur?
