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Capital Offerings Profile

Company NameARMOUR Residential REIT, Inc.
Offering TypeFollow-On
DescriptionClass A common stock, $0.001 par value
Currency of IssueUSD
Trading Symbol (Exchange)ARR (NYSE)
Announcement Date1/20/2011
Trade Date1/21/2011
Settlement Date1/26/2011
Completion Date1/21/2011
Overallotment Expiration3/12/2011
Lock-up Expiration3/22/2011
Date Overallotment Exercised1/26/2011
Shelf Filing Date11/17/2010
Mandatory Redemption?No
Exchange for Existing Issue?No

Use of Proceeds
The net proceeds from this offering will be used to acquire additional target assets. The company's focus will be on purchasing Agency Securities and Agency Debt and other assets, subject to the company's investment guidelines and REIT qualification requirements. ARRM (ARMOUR Residential Management LLC, an entity affiliated with the company's executive officers) will make determinations as to the percentage of the company's assets that will be invested in each of the company's target assets. ARRM decisions will depend on prevailing market conditions and may change over time in response to opportunities available in different interest rate, economic and credit environments. Until appropriate assets can be identified, ARRM may invest the net proceeds from this offering in interest-bearing short-term investments, including funds that are consistent with the company's qualification as a REIT. Prior to the time the company have fully used the net proceeds of this offering to acquire the company's target assets, company may fund its quarterly cash distributions out of such net proceeds.

Offer Price ($)7.55
Gross Amount Offered ($000)45,300
Amount Including Overallotment ($000)52,095
Shares Offered6,000,000
Total Shares Offered6,900,000
Original Shelf Value ($000)278,836

Overallotment Amount Available ($000)6,795
Overallotment Shares Available900,000
Overallotment Amount Exercised ($000)6,795
Overallotment Shares Exercised900,000

Underwriting Fees
Gross Spread ($)0.39
Gross Spread (%)5.13
Sales Concession ($)0.23

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Ladenburg Thalmann & Co. Inc.3,025,00022,839
  Cantor Fitzgerald & Co.650,0004,907
Non-book Lead Manager(s)
  Maxim Group LLC1,180,0008,909
  National Securities Corporation620,0004,681
  Aegis Capital Corp.525,0003,964

Issuer's CounselAkerman LLP
Underwriter's CounselGraubard Miller
Auditor(s)EisnerAmper LLP

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