Home News MFA Mortgage Investments, Inc. Announces Pricing of Public Offering of Common Stock

MFA Mortgage Investments, Inc. Announces Pricing of Public Offering of Common Stock

MFA Mortgage Investments, Inc. (NYSE: MFA) announced today the pricing of an underwritten public offering of 11,000,000 shares of its common stock at a price to the public of $7.25 per share, for estimated gross proceeds of approximately $79.8 million. MFA has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock to cover over-allotments, if any. All of the shares are being offered by MFA from its existing shelf registration statement.

The estimated net proceeds to MFA from this offering after the underwriting discount and expenses are expected to be approximately $75.5 million. MFA intends to use substantially all of the net proceeds from this offering to acquire additional high quality MBS, on a leveraged basis, consistent with its investment policy and for working capital, which may include, among other things, the repayment of its repurchase agreements.

MFA expects to close the transaction on or about Wednesday, September 12, 2007, subject to the satisfaction of customary closing conditions.

UBS Investment Bank, Deutsche Bank Securities and JMP Securities are acting as joint book-running managers for the offering, with Bear, Stearns & Co. Inc. acting as a co-manager. Information about the offering is available in the prospectus supplement and the accompanying prospectus of the offering filed with the Securities and Exchange Commission. Copies of the prospectus supplement and the accompanying prospectus can be obtained from UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171 (telephone 212-821- 3000).

This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of common stock, nor shall there be any sale of shares of common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MFA

MFA is a real estate investment trust (REIT) primarily engaged in the business of investment, on a leveraged basis, in a portfolio of high-quality hybrid and adjustable-rate mortgage-backed securities.

Source:  MFA