Banking, finance, and taxes

IPO FILING: American Capital Agency Corp. (AGNC, ACAS)

A newly created firm called American Capital Agency Corp. has filed to come public.  This is a newly-organized Delaware corporation that was 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. 

American Capital Strategies, Ltd. (NASDAQ: ACAS) has a subsidiary called American Capital Agency Management, LLC, and it will manage the new operations.  This new IPO will trade under the ticker "AGNC" on NASDAQ.  American Capital Strategies will also purchase $50 million of the common stock offering in a private placement.

There are no operations to date, but this lists Citigroup and Merrill Lynch as the two underwriters.  This will trade as a REIT, and it almost has the same ring of some vulture fund type vehicles that have recently been filed.

Jon C. Ogg
March 17, 2008

Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.