Key Developments For FBR Capital Markets Corporation
FBR Capital Markets Corporation (FBCM.O) (Nasdaq)
Arlington Asset Investment Corp. Closes FBR Capital Markets Corporation Stock Sale
Arlington Asset Investment Corp. announced that the company and one of its wholly owned subsidiaries, FBR Securities Investment HY, LLC, closed the previously announced secondary public offering of 14,755,017 shares (including underwriters' over allotment) of FBR Capital Markets Corporation (FBR Capital Markets) common stock at $6.00 per share. Proceeds to the company, after the underwriting discount but before expenses, are $84,103,597. As a result of this transaction, the company no longer owns any shares of FBR Capital Markets.
FBR Capital Markets Corporation Announces Pricing Of Secondary Offering Of Common Stock
FBR Capital Markets Corporation announced that Arlington Asset Investment Corp. and one of its wholly owned subsidiaries priced the previously announced secondary public offering of 12,830,450 shares of FBR Capital Markets common stock at $6.00 per share. Proceeds to the selling stockholders, after the underwriting discount but before expenses, will be $73,133,565. The underwriters have a 30-day option to purchase up to an additional 1,924,567 shares of the FBR Capital Markets common stock to cover over-allotments, if any, from the selling stockholder that is Arlington Asset Investment Corp.'s wholly owned subsidiary. FBR Capital Markets will not receive any of the net proceeds from the sale of shares. FBR Capital Markets & Co., a wholly-owned subsidiary of FBR Capital Markets, and Barclays Capital Inc. are joint book-running managers for the offering.
FBR Capital Markets Corporation Sees Return To Profitability In Q4, 2009-Reuters
Reuters reported that FBR Capital Markets Corporation expects to post a profit for the fourth quarter of 2009. The Company expects to produce improved operating results and deliver profitability on a core and a GAAP basis for the fourth quarter and the full second half of the year.
FBR Capital Markets Corporation Announces Secondary Offering of Common Stock
FBR Capital Markets Corporation announced that Arlington Asset Investment Corp. and one of its wholly owned subsidiaries plan to offer 12,830,450 shares of FBR Capital Markets' common stock in an underwritten public offering. The underwriters are expected to have a 30-day option to purchase up to an additional 1,924,567 shares of FBR Capital Markets' common stock to cover overallotments, if any, from the selling stockholders. FBR Capital Markets will not receive any of the net proceeds from the sale of shares. FBR Capital Markets & Co., a wholly-owned subsidiary of FBR Capital Markets, and Barclays Capital Inc. are joint book-running managers for the offering, and Sandler O'Neill & Partners, L.P. is co-manager for the offering.
FBR Capital Markets Corporation Completes Watch Hill Partners Acquisition
FBR Capital Markets Corporation announced that on August 31, 2009, it has completed its previously announced acquisition of Watch Hill Partners LLC, a boutique corporate finance advisory practice based in New York. The Watch Hill Partners team is now part of FBR Capital Markets' Investment Banking department. Terms of the Watch Hill Partners transaction were not disclosed.
