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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, December 18, 10:41 AM

Slide #102. Chimera Investment Corporation Preferred Stock Offering

Company: Chimera Investment Corporation (NYSE:CIM)
Date announced: 2/22/2017
Shares Offered: 12,000,000
Date of Pricing: 2/22/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Chimera Investment Corporation (NYSE:CIM) (the "Company") today announced the pricing of its underwritten public offering of 12,000,000 shares of its 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $300 million, before deducting the underwriting discount and other estimated offering expenses. The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "CIM PRB." The offering is expected to close on February 27, 2017, subject to customary closing conditions. The Company has granted the underwriters an option for 30 days to purchase up to an additional 1,800,000 shares of the Series B Preferred Stock to cover over-allotments, if any.

Chimera Investment is a real estate investment trust engaged in investing in mortgage assets. Co.'s investment portfolio includes: Residential Mortgage Loans, which invests in residential mortgage loans through direct and secondary market purchases from banks, non-bank financial institutions, and a federally chartered corporation; Residential Mortgage-Backed Securities, which invests in mortgage pass-through certificates issued or guaranteed by the Government National Mortgage Association, Federal National Mortgage Association or Federal Home Loan Mortgage Corporation; Agency mortgage-backed securities; Commercial Mortgage Loans; and Other Asset-Backed Securities.

Preferreds: CIM.PRA, CIM.PRB


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Name:  Chimera Investment Corp
Website:  www.chimerareit.com
Sector:  REITs
Number of ETFs Holding CIM:  41 (see which ones)
Total Market Value Held by ETFs:  $163,761,299
Total Market Capitalization:  $3,542,000,000
% of Market Cap. Held by ETFs:  4.62%
 

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