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Business

Invesco Mortgage Capital raises $367M

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Aug 18, 2011

Real estate investment trust Invesco Mortgage Capital said on Thursday it received $367.4 million in gross proceeds from a common stock offering.

Invesco Mortgage Capital, a unit of Atlanta-based Invesco Ltd., sold 20 million shares at a per share price of $18.37, a 4.8 percent discount from Wednesday’s closing share price.

The company said the funds will be used to acquire additional residential and commercial mortgage-backed securities, mortgage loans and for other purposes.

The gross proceeds do not include costs related to the stock offering.

About the Author

J. Scott Trubey is the economy and environment editor for The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. Trubey is also a former investigative reporter, with a specialty in banking, real estate and public corruption. He joined the AJC in 2010.

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