Banking, finance, and taxes
Chimera Files To Raise More Cash, Again (CIM, NLY)
Published:
Last Updated:
Chimera Investment Corporation (NYSE: CIM) is back at the trough to raise more cash. The vulture mortgage investment REIT has filed to sell up to $750 million in common and preferred stock. No underwriters were named in the filing.
The company lists the use of funds as "to finance the acquisition ofnon-Agency RMBS, Agency RMBS, prime and Alt-A mortgage loans, CMBS,CDOs and other consumer or non-consumer ABS, and for other generalcorporate purposes such as repayment of outstanding indebtedness,working capital, and for liquidity needs."
Chimera’s charter provides that it may issue up to 550,000,000 sharesof stock, consisting of up to 500,000,000 shares of common stock havinga par value of $0.01 per share and up to 50,000,000 shares of preferredstock having a par value of $0.01 per share. As of November 30, 2008,177,170,098 shares of common stock and no shares of preferred stockwere issued and outstanding.
As a reminder, we dubbed this one as being the Annaly CapitalManagement, Inc. (NYSE: NLY) vulture vehicle. This is also notChimera’s first secondary filing.
Jon C. Ogg
December 24, 2008
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
