Cypress Sharpridge Investments (CYS) announced in a statement that it closed a public offering of 14,950,000 shares of its common stock, including 1,950,000 shares pursuant to an option that was fully exercised by the underwriters, at a public offering price of $12.95 per share for total net proceeds of approximately $184.7 million.
The company, which is a specialty finance co. that invests on a leveraged basis in residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie or Freddie or Ginnie Mae, said it intends to invest the net proceeds of the offering in Agency RMBS and for general corporate purposes.
CYS shares climbed 1.07% in midday Friday trading.
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