Arlington Asset Investment (AI) Prices 12.8M Shares of FBR Capital (FBCM) at $6/Share
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Arlington Asset Investment Corp. (NYSE: AI) today announced that the Company and one of its wholly owned subsidiaries, FBR Securities Investment HY, LLC, priced the previously announced secondary public offering of 12,830,450 shares of FBR Capital Markets Corporation (Nasdaq: FBCM) common stock at $6.00 per share.
Proceeds to the Company, after the underwriting discount but before expenses, will be approximately $73.1 million. The underwriters have a 30-day option to purchase up to an additional 1,924,567 shares of the FBR Capital Markets' common stock to cover over-allotments, if any, from FBR Securities Investment HY, LLC. If executed, the additional proceeds to the Company, after the underwriting discount but before expenses, will be approximately $11.0 million.
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