CYS Investments Inc. priced a public offering of 40 millions shares of its common stock at $13.70 per share to generate proceeds for, among other things, investment in agency residential mortgage-backed securities.
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The real estate investment trust has granted the underwriters an option for 30 days to purchase up to an additional 6 million shares of common stock. Subject to customary closing conditions, the offering is expected to close July 16.
In addition to RMBS investments, CYS plans to use the proceeds for general corporate purposes.
The joint bookrunners for the offering are Barclays Capital Inc., Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and UBS Securities LLC.
