Secondary markets

Ellington Residential Mortgage Prices IPO

By Bonnie Sinnock

Published May 01, 2013, 4:41 p.m. EDT

1 Min Read

Real estate investment trust Ellington Residential Mortgage REIT, Old Greenwich, Conn., has priced an initial public offering of 6,450,000 common shares at $20 per share.

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Total gross proceeds from the offering will be $129 million and used to residential mortgage and real estate-related assets, with a primary focus on government and government-sponsored residential mortgage-backed securities, according to the company.

Underwriters are granted a 30-day option to purchase up to an additional 967,000 common shares to cover overallotments, if any.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and UBS Securities LLC are the joint book runners for the offering. RBC Capital Markets LLC, JMP Securities LLC, Blackstone Advisory Partners LP, Tod’s Point Capital LLC and Sterne, Agree & Leach Inc. are co-managers.

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

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Secondary markets

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