Shares of American Capital Agency Corp. (AGNC) slipped as much as 7 percent to $26.67, the most intraday since end of June. The real estate investment trust announced today a public offering of 11.5 million shares of its common stock at a public offering price of $26.00 per share for total net proceeds of approximately $285 million.
AGNC said it expects to use the net proceeds from this offering to acquire additional agency securities as market conditions warrant and for general corporate purposes.
Shares of AGNC were off by 5.61% to $26.42 Tuesday morning.
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