11/17/2021 | Press release | Distributed by Public on 11/17/2021 08:54
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Per Share
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Total(1)
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Price to the public
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Underwriting discounts and commissions
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| | | $ | | | | | $ | | | ||
Proceeds to us (before expenses)
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| | | $ | | | | | $ | | | |
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Morgan Stanley
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J.P. Morgan
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UBS Investment Bank
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Wells Fargo Securities
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Keefe, Bruyette & Woods
A Stifel Company |
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B. Riley Securities
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Page
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | S-3 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-5 | | |
INCORPORATION BY REFERENCE OF INFORMATION FILED WITH THE SEC
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| | | | S-6 | | |
PROSPECTUS SUPPLEMENT SUMMARY
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| | | | S-7 | | |
RISK FACTORS
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| | | | S-14 | | |
USE OF PROCEEDS
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| | | | S-19 | | |
CAPITALIZATION
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| | | | S-20 | | |
DESCRIPTION OF THE SERIES G PREFERRED STOCK
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| | | | S-22 | | |
UNDERWRITING
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| | | | S-35 | | |
EXPERTS
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| | | | S-38 | | |
LEGAL MATTERS
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| | | | S-38 | | |
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Page
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ABOUT THIS PROSPECTUS
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| | | | 2 | | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | 4 | | |
OUR COMPANY
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| | | | 5 | | |
RISK FACTORS
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| | | | 6 | | |
USE OF PROCEEDS
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| | | | 7 | | |
DESCRIPTION OF THE SECURITIES WE MAY OFFER
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| | | | 8 | | |
DESCRIPTION OF COMMON STOCK
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| | | | 9 | | |
DESCRIPTION OF PREFERRED STOCK
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| | | | 13 | | |
DESCRIPTION OF DEBT SECURITIES
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| | | | 20 | | |
GLOBAL SECURITIES
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| | | | 31 | | |
CERTAIN PROVISIONS OF MARYLAND LAW AND OUR CHARTER AND BYLAWS
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| | | | 32 | | |
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | 37 | | |
PLAN OF DISTRIBUTION
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| | | | 63 | | |
CERTAIN LEGAL MATTERS
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| | | | 66 | | |
EXPERTS
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| | | | 66 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | 66 | | |
INCORPORATION BY REFERENCE OF INFORMATION FILED WITH THE SEC
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| | | | 66 | | |
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As of September 30, 2021
(unaudited) |
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Actual
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As Adjusted
for This Offering(1) |
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(Dollars in thousands)
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Cash and cash equivalents
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| | | $ | 408,785 | | | | | $ | | | |
Debt: | | | | | | | | | | | | | |
Repurchase agreements
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| | | $ | 334,556 | | | | | $ | 334,556 | | |
Subordinated debentures
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| | | | 45,000 | | | | | | 45,000 | | |
Convertible notes
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| | | | 137,240 | | | | | | 137,240 | | |
Senior Unsecured Notes
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| | | | 96,540 | | | | | | 96,540 | | |
Total debt(2)
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| | | $ | 613,336 | | | | | $ | 613,336 | | |
Non-controlling interest in Consolidated VIEs
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| | | | 4,626 | | | | | | 4,626 | | |
Stockholders' equity | | | | | | | | | | | | | |
Preferred stock, $0.01 par value per share, 7.75% Series B Cumulative Redeemable, $25 liquidation preference per share, 6,000,000 shares authorized, 3,156,087 shares issued and outstanding actual and as
adjusted |
| | | $ | 76,180 | | | | | $ | | | |
Preferred stock, $0.01 par value per share, 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable, $25 liquidation preference per share, 8,400,000 shares authorized and 6,123,495 shares issued and outstanding actual and as adjusted
|
| | | | 148,134 | | | | | | 148,134 | | |
Preferred stock, $0.01 par value per share, 7.875% Series E Fixed-to-Floating
Rate Cumulative Redeemable, $25 liquidation preference per share, 9,900,000 shares authorized and 7,411,499 shares issued and outstanding and as adjusted |
| | | | 179,349 | | | | | | 179,349 | | |
Preferred stock, $0.01 par value per share, 6.875% Series F Fixed-to-Floating
Rate Cumulative Redeemable, $25 liquidation preference per share, 7,750,000 shares authorized and 5,750,000 shares issued and outstanding actual and as adjusted |
| | | | 138,569 | | | | | | 138,569 | | |
Preferred stock, $0.01 par value per share, % Series G Cumulative Redeemable, $25 liquidation preference per share, 0 shares authorized and 0 shares issued and outstanding actual and shares authorized and shares issued and outstanding as adjusted
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| | | | - | | | | | | | | |
Common stock, $0.01 par value per share, 800,000,000 shares authorized, 379,286,475 shares issued and outstanding actual and as adjusted
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| | | | 3,793 | | | | | | 3,793 | | |
Additional paid-in capital
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| | | | 2,353,483 | | | | | | 2,353,483 | | |
Accumulated other comprehensive income
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| | | | 2,041 | | | | | | 2,041 | | |
Accumulated deficit
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| | | | (543,756) | | | | | | (543,756) | | |
Company's stockholders' equity
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| | | $ | 2,357,793 | | | | | $ | | | |
Total capitalization(3)
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| | | $ | 2,971,129 | | | | | $ | | | |
Underwriters
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Number of Shares
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Morgan Stanley & Co. LLC
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J.P. Morgan Securities Inc.
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UBS Securities LLC
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Wells Fargo Securities, LLC
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Keefe, Bruyette & Woods, Inc.
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B. Riley Securities, Inc.
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Total
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Per Share
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Without Exercise
of Option |
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With Full
Exercise of Option |
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Price to the public
|
| | | $ | | | | | $ | | | | | $ | | | |||
Underwriting discounts and commissions
|
| | | $ | | | | | $ | | | | | $ | | | |||
Proceeds to us (before expenses)
|
| | | $ | | | | | $ | | | | | $ | | | |
| | |
Page
|
| |||
ABOUT THIS PROSPECTUS
|
| | | | 2 | | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 4 | | |
OUR COMPANY
|
| | | | 5 | | |
RISK FACTORS
|
| | | | 6 | | |
USE OF PROCEEDS
|
| | | | 7 | | |
DESCRIPTION OF THE SECURITIES WE MAY OFFER
|
| | | | 8 | | |
DESCRIPTION OF COMMON STOCK
|
| | | | 9 | | |
DESCRIPTION OF PREFERRED STOCK
|
| | | | 13 | | |
DESCRIPTION OF DEBT SECURITIES
|
| | | | 20 | | |
GLOBAL SECURITIES
|
| | | | 31 | | |
CERTAIN PROVISIONS OF MARYLAND LAW AND OUR CHARTER AND BYLAWS
|
| | | | 32 | | |
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS
|
| | | | 37 | | |
PLAN OF DISTRIBUTION
|
| | | | 63 | | |
CERTAIN LEGAL MATTERS
|
| | | | 66 | | |
EXPERTS
|
| | | | 66 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 66 | | |
INCORPORATION BY REFERENCE OF INFORMATION FILED WITH THE SEC
|
| | | | 66 | | |