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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 Date6/26/2017
Trade Date6/26/2017
Settlement Date6/30/2017
Completion Date6/26/2017
Overallotment Expiration7/30/2017
Lock-up Expiration7/26/2017
Shelf Filing Date5/1/2015
Mandatory Redemption?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. The company focus will be on purchasing MBS and other mortgage-related investments, subject to its investment guidelines and REIT qualification requirements. The company 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, company may invest the net proceeds from this offering 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, company may fund its monthly cash distributions out of such net proceeds.

Offer Price ($)26.40
Gross Amount Offered ($000)118,800
Amount Including Overallotment ($000)118,800
Shares Offered4,500,000
Total Shares Offered4,500,000

Overallotment Amount Available ($000)17,820
Overallotment Shares Available675,000

Underwriting Fees
Gross Spread ($)0.44
Gross Spread (%)1.67
Sales Concession ($)0.25

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Morgan Stanley & Co. LLC1,575,00041,580
  Barclays Capital Inc.652,50017,226
  Citigroup Global Markets Inc.652,50017,226
  Goldman Sachs & Co. LLC652,50017,226
  J.P. Morgan Securities LLC652,50017,226
  JMP Securities LLC157,5004,158
  Nomura Securities International, Inc.157,5004,158

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

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