MFA Financial, Inc. Prices Public Offering of Series B Cumulative Redeemable
NEW YORK, April 9, 2013
NEW YORK, April 9, 2013 /PRNewswire/ -- MFA Financial, Inc. (NYSE: MFA)
announced that yesterday it priced a public offering of 7 million shares of
its 7.50% Series B Cumulative Redeemable Preferred Stock (the "Series B
Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds
of approximately $175 million. The offering is subject to customary closing
conditions and is expected to close on or about April 15, 2013.
In connection with the offering, MFA has granted the underwriters an option
for 30 days to purchase up to an additional 1.05 million shares of the Series
B Preferred Stock to cover overallotments, if any.
MFA expects to use the net proceeds of the offering for general corporate
purposes, including, without limitation, the redemption of all or a portion of
its outstanding 8.50% Series A Cumulative Redeemable Preferred Stock, and to
use any remaining net proceeds to acquire additional mortgage-backed
securities, consistent with its investment policy, and for working capital,
which may include, among other things, the repayment of its repurchase
Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities, LLC and
J.P. Morgan Securities LLC are acting as joint book-running managers for the
offering. RBC Capital Markets, LLC is acting as lead manager for the offering
and Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., JMP
Securities LLC and Sterne, Agee & Leach, Inc. are acting as co-managers for
MFA has filed a shelf registration statement and prospectus with the
Securities and Exchange Commission (SEC), and will file a prospectus
supplement for the offering to which this communication relates. Before you
invest, you should read the prospectus supplement and the accompanying
prospectus and other documents MFA has filed with the SEC for more complete
information about MFA and this offering. You may obtain these documents for
free by visiting EDGAR on the SEC Web site at http://www.sec.gov.
Alternatively, MFA, the underwriters or any dealer participating in the
offering will arrange to send you the prospectus supplement and accompanying
prospectus if you request them by contacting:
Morgan Stanley & Co. LLC
180 Varick Street
New York, NY 10014
Attention: Prospectus Department
or by calling 1-866-718-1649
or by e-mail: email@example.com
UBS Securities LLC
299 Park Avenue
New York, New York 10171
Attention: Prospectus Specialist
or by calling 1-877-827-6444 (ext. 561-3884)
Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd., NC0675
Charlotte, North Carolina 28262
Attention: Capital Markets Client Support
or by calling 1-800-326-5897
or e-mail: firstname.lastname@example.org
J.P. Morgan Securities LLC
383 Madison Avenue, 3rd Floor
New York, New York 10179
Attention: Syndicate Desk
or by calling 1-212-834-4533
The shares will be issued pursuant to the shelf registration statement that
was previously filed with the SEC. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy the shares. An offering of
the shares will be made only by means of a prospectus supplement and
accompanying prospectus. The prospectus supplement and the accompanying
prospectus shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Cautionary Statement Regarding Forward-Looking Information
When used in this filing, statements which are not historical in nature,
including those containing words such as "will," "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should," "may" or
similar expressions, are intended to identify "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, and, as
such, may involve known and unknown risks, uncertainties and assumptions.
These statements regarding the following subjects, among others, may be
forward-looking: the Company's expected financial results; the timing of the
completion of the Company's review the Company's REIT taxable income
calculations; the impact of such review, including on the Company's previously
issued financial statements and REIT status; the timing and amount of
distributions made to the Company's stockholders; and the timing of the filing
of the Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2012. These and other risks, uncertainties and factors, including those
described in the annual, quarterly and current reports that MFA files with the
Securities and Exchange Commission, could cause MFA's actual results to differ
materially from those projected in any forward-looking statements it makes.
All forward-looking statements speak only as of the date on which they are
made. New risks and uncertainties arise over time and it is not possible to
predict those events or how they may affect MFA. Except as required by law,
MFA is not obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
CONTACT: MFA Investor Relations
SOURCE MFA Financial, Inc.
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