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Capital Offerings Profile

Company NameARMOUR Residential REIT, Inc.
Offering TypeFollow-On
DescriptionClass A common stock, $0.001 par value
ISINUS0423155078
Currency of IssueUSD
Trading Symbol (Exchange)ARR (NYSE)
 
Announcement Date1/14/2019
Trade Date1/15/2019
Settlement Date1/17/2019
Completion Date1/15/2019
Overallotment Expiration2/16/2019
Lock-up Expiration2/14/2019
Date Overallotment Exercised1/15/2019
Shelf Filing Date4/26/2018
 
144a?No
Mandatory Redemption?No
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company intends to use the net proceeds from this offering to acquire additional target assets in accordance with its objectives and strategies. Its focus will be on purchasing MBS and other mortgage-related investments, subject to its investment guidelines and REIT qualification requirements. The company's decision to purchase its target assets 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, the company may invest the net proceeds in interest-bearing short-term investments, including funds that are consistent with its qualification as a REIT. These investments are expected to provide a lower net return than company will seek to achieve from its target assets. The company may also use a portion of the net proceeds for general corporate purposes. Prior to the time company have fully used the net proceeds of this offering, it may fund its monthly cash distributions out of such net proceeds.

Pricing
Offer Price ($)20.41
Gross Amount Offered ($000)122,460
Amount Including Overallotment ($000)140,829
Shares Offered6,000,000
Total Shares Offered6,900,000

Overallotments
Overallotment Amount Available ($000)18,369
Overallotment Shares Available900,000
Overallotment Amount Exercised ($000)18,369
Overallotment Shares Exercised900,000

Underwriting Fees
Gross Spread ($)0.38
Gross Spread (%)1.86
Sales Concession ($)0.23

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Morgan Stanley & Co. LLC1,950,00039,800
  Barclays Capital Inc.810,00016,532
  Citigroup Global Markets Inc.810,00016,532
  Credit Suisse Securities (USA) LLC810,00016,532
  Goldman Sachs & Co. LLC810,00016,532
  J.P. Morgan Securities LLC810,00016,532

Professionals
Issuer's CounselHolland & Knight, LLP
Underwriter's CounselSkadden, Arps, Slate, Meagher & Flom LLP & Affiliates
Auditor(s)Deloitte & Touche, LLP

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