Thornburg Mortgage Inc., Santa Fe, N.M., has priced a follow-on offering of 1.0 million shares of common stock at $19.35 per share.The estimated net proceeds of $18.4 million will be used chiefly to fund loans originated by the company and to purchase additional adjustable-rate mortgage securities, Thornburg said. A. G. Edwards, the sole managing underwriter for the offering, has been granted a 30-day option to buy up to an additional 150,000 shares of common stock to cover any overallotments. Thornburg can be found online at http://www.thornburg.com.
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