- Annaly Capital Management ( NYSE: NLY ) stock slipped 3% postmarket on Monday after the mortgage REIT announced a public offering of 100M shares .
- NLY intends to grant underwriters a 30-day option to buy up to an additional 15M shares.
- Net proceeds will be used to acquire targeted assets under NLY's capital allocation policy, which may include further diversification of its investments in Agency assets as well as residential credit assets.
- NLY also intends to use proceeds for general corporate purposes, including paying down obligations and other working capital items.
For further details see:
Annaly Capital Management stock slips postmarket on 100M share offering