Annaly Mortgage Management Inc., New York, has priced a public offering of 34.1 million shares of the company's common stock at $11.75 per share, for estimated gross proceeds of $401 million.The real estate investment trust also announced the pricing of a public offering of 4.0 million shares of 6.00% series B cumulative convertible preferred stock at $25 per share. The estimated net proceeds of $477 million from the two offerings will be used to purchase mortgage-backed securities and for general corporate purposes, the REIT said. The sole book-running manager of both offerings is Merrill Lynch & Co. Annaly can be found online at http://www.annaly.com.
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