Banking, finance, and taxes
IPO FILING: American Capital Agency Corp. (AGNC, ACAS)
Published:
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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
