American Capital Agency (AGNC) IPO Trades Lower

May 15, 2008 12:07 PM EDT

The IPO for American Capital Agency (Nasdaq: AGNC) is open for trading. The stock is trading at $19.35 after pricing 10,000,000 shares at $20.00. All of the shares were offered directly by the company.

Citi and Merrill Lynch & Co. are the joint book-runners for the offering. Credit Suisse, Deutsche Bank Securities and Morgan Stanley are joint lead managers and Banc of America Securities LLC, HSBC, JMP Securities and RBC Capital Markets are co-managers for the offering.

Concurrently with the Company's initial public offering, American Capital Strategies, Ltd. (Nasdaq: ACAS) has agreed to purchase $100 million (or 5,000,000 shares) of the Company's common stock at the initial public offering price in a private placement.

American Capital Agency Corp. is a newly-organized Delaware corporation formed to invest exclusively in single-family residential mortgage 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.

Related Categories

IPOs

Stocks Mentioned

Related Entities

• Credit Suisse
• Deutsche Bank
• American Capital Strategies
• Citi
• Morgan Stanley
• Merrill Lynch
• Banc of America
• RBC Capital

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