Just to set the record straight, no underwriters were named in the shelf registration, and that means it is unlikely that a spot secondary offering is imminent. That is a good thing because Yahoo! Finance shows AG Mortgage’s market capitalization rate at only about $337 million. AG Mortgage is a real estate investment trust focused on managing a portfolio of residential mortgage assets, other real estate-related securities and financial assets. It is one of the double-digit yields out there, and its most recent yield is close to 13%.
As far as the use of proceeds: “Unless otherwise indicated in an accompanying prospectus supplement, we intend to use the net proceeds from the sale of securities offered by this prospectus and the accompanying prospectus supplement to acquire our target assets and for general corporate purposes, including the repayment of indebtedness.”
The stock closed Friday at $21.34, and its 52-week range is $16.48 to $21.95.
JON C. OGG
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