VERO BEACH, FL – Armour Residential REIT, Inc. (NYSE:ARR), a real estate investment trust, announced today the expansion of its at-the-market (ATM) equity offering program.
The company has entered into an agreement adding Janney Montgomery Scott LLC as a sales agent, joining an array of financial institutions in facilitating the sale of up to 30,366,246 shares of common stock.
The addition of Janney to the sales agent lineup follows a series of amendments to the original equity sales agreement dated July 26, 2023. The most recent amendment prior to this was on August 23, 2024, which increased the number of shares available for sale by 25 million. The ATM offering allows Armour Residential to sell shares over time, tapping into the market as needed.
The shares in the offering will be issued under a prospectus supplement filed with the Securities and Exchange Commission on the same day, as part of the company's effective shelf registration statement.
This mechanism provides Armour Residential with a flexible way to raise capital that can be used for general corporate purposes, including investment in its portfolio of mortgage-backed securities and other real estate-related assets.
The equity sales program, which was established in 2023, has been amended several times to include various financial institutions as sales agents. The current roster now includes BUCKLER Securities LLC, JonesTrading Institutional Services LLC, Citizens JMP Securities LLC, Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., StockBlock Securities LLC, BTIG, LLC, and Janney Montgomery Scott LLC.
Armour Residential REIT operates within the real estate sector, focusing on residential mortgage-backed securities. Its stock is traded on the New York Stock Exchange under the ticker symbols ARR for common stock and ARR-PRC for its preferred stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.