Annaly Capital Management (NLY) said late Thursday it priced a public offering of 10 million shares of its 8.875% series J fixed-rate cumulative redeemable preferred stock, for about $250 million in expected gross proceeds.
Underwriters have a 30-day overallotment option to purchase up to 1.5 million additional shares.
The company said it expects to close the offering by Aug. 7, with proceeds to go toward purchasing targeted assets under its capital allocation policy.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.