Thornburg Prices Stock Offering

Thornburg Mortgage Inc., Santa Fe, N.M., has priced an offering of 4.5 million shares of common stock at $27.05 per share.Thornburg said the gross proceeds of $121.7 million will be used primarily to fund adjustable-rate loans originated by the company and to buy additional ARM securities. Citigroup Global Markets Inc. was the book-running lead manager of the transaction, and A.G. Edwards & Sons Inc. acted as co-lead manager. The underwriters were granted an option to buy up to 675,000 additional shares of common stock to cover any overallotments. Thornburg, a real estate investment trust focused mainly on the jumbo segment of the ARM market, can be found online at http://www.thornburg.com.