FBR Capital Markets prices stock offering (AP)
Tue, 16 Jun 2009 10:53:33 Etc/GM
The price announced late Monday represents a 2.7 percent discount to Monday's closing price of $4.78 per share.
A total of 21.5 million shares of common stock will be offered, 20 million of which will be sold by the company itself. The remaining 1.5 million shares will be sold a stockholder that is a subsidiary of Arlington Asset Investment Corp. FBR Capital Markets will not receive any proceeds from the shares sold by Arlington Asset Investment.
Arlington, Va.-based FBR Capital Markets expects to generate nearly $88.4 million from its stock sale, after the underwriting discount but before expenses.
Underwriters will have a 30-day option to purchase up to an additional 3.2 million shares from Arlington Asset Investment to cover over allotments.
source: http://biz.yahoo.com/ap/090616/us_fbr_capital_markets_stock_offer.html?.v=1