ATLANTA, May 17, 2021 / PRNewswire / – Invesco Mortgage Capital Inc. (The “Company”) (NYSE: IVR) announced today that it intends to repurchase all 5,600,000 outstanding shares of the Company’s 7.75% Cumulative Redeemable Preferred Shares Series A at par. US $ 0.01 per share (“Series A Preference Shares”) by June 16, 2021 (“Maturity date”). Series A preferred shares are currently listed on the New York Stock Exchange under the symbol IVR PrA.
All outstanding Series A preferred shares will be repurchased at a cash redemption price of USD 25.00 per share, plus any accrued and unpaid dividends (declared or not declared) from April 26, 2021 before the Maturity Date (the “Maturity Price”), but not including it. Dividends on the Series A Preferred Shares will cease accruing on the Maturity Date. Upon redemption, the shares of the Series A Preferred Shares will no longer be considered outstanding and all rights in respect of the shares of the Series A Preferred Shares will terminate and terminate, except only the right of their holders to receive the Redemption Price without interest. , from a buyout and payment agent.
All issued and outstanding shares of the Series A Preferred Shares are held in uncertificated form through the Custodian Trust Company (“DTC”). The Series A Preferred Shares will be repurchased in accordance with DTC procedures. The DTC payment for Series A Preferred Share shares will be made by Computershare Trust Company NA, which acts as the redemption and settlement agent (the “Redemption Agent”). The Redemption Agent address is as follows:
Computershare Trust Company NA
150 Royal Street
Canton, Massachusetts 02021
Attn: Corporate Action
This press release does not constitute a notice of redemption pursuant to the Company’s Articles of Association of amendments and revisions governing the Series A Preferred Shares.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. – a real estate investment fund that primarily specializes in investing, financing and managing mortgage-backed securities and other mortgage-related assets. Invesco Mortgage Capital Inc. is outsourced and advised by Invesco Advisers, Inc., a registered investment advisor and an indirect wholly owned subsidiary of Invesco Ltd., a leading independent international investment management firm.
Forward-looking statements warning
This press release may contain statements and information that are “forward-looking statements” within the meaning of the US securities laws as defined in the Private Securities Litigation Reform Act of 1995, as amended, and such statements are intended to protect the harbor provided by the same. Forward-looking statements involve significant risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company. These forward-looking statements include information about the planned repurchase of the Series A Preferred Shares and the Company’s ability to complete such repurchase, as well as any other statements other than statements of historical fact. Believe, expect, expect, estimate, plan, continue, intend, should, may, or similar expressions, as well as future or conditional verbs such as will ”,“ may ”,“ could ”,“ should ”and“ would ”, as well as any other statements that necessarily depend on future events, are intended to define forward-looking statements.
Forward-looking statements are based on the beliefs, assumptions and expectations of management regarding the future results of the Company’s operations, taking into account all currently available information. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations may change as a result of a variety of possible events or factors, not all of which are known to the Company. For example, the redemption described above is subject to the Company’s continuing ability to pay the Redemption Price. If the Company is unable to pay the Redemption Price, the redemption may not occur as described above. Some of the other factors are described in the company’s 10-K annual report and 10-Q quarterly reports, which are available on the SEC’s website at: www.sec.govunder the headings Risk Factors, Forward-Looking Reports, Business and Management Discussion and Analysis of Financial Condition and Results of Operations.
Any forward-looking statements are valid only as of the date they are made. Over time, new risks and uncertainties arise and it is impossible to predict these events or how they might affect the Company. Except as provided by law, the Company is not obligated and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Invesco Mortgage Capital Inc.
Investor Relations Contact:
Jack Bateman, 404-439-3323
SOURCE Invesco Mortgage Capital Inc.