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Arlington Asset Investment Corp.
Ticker Symbol: AAIC CUSIP: 041356205 Previous CUSIP: 358434108 Exchange: NYSE
Company's Online Profile
BUSINESS: Arlington Asset Investment Corp. is a publicly traded real estate investment trust that currently invests primarily in mortgage-related and other assets. The Company acquires residential mortgage-backed securities, primarly issued either by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities.
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Find All Related Securities for AAIC
Notes: May 30, 2023 -- Ellington Financial Inc. (NYSE: EFC) ("Ellington Financial"), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Arlington Asset Investment Corp. (NYSE: AAIC) ("Arlington"), a real estate investment trust that invests primarily in mortgage-related and other assets, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Arlington. Upon completion of the acquisition, Ellington Financial is expected to have a pro forma equity capital base of over $1.5 billion.
Under the terms of the merger agreement, (i) each share of Arlington common stock will be converted into 0.3619 shares1 of Ellington Financial common stock, or approximately 11.7 million shares of Ellington Financial common stock in the aggregate, and (ii) Arlington common stockholders will also receive $3 million in cash in the aggregate (or $0.09 per share) to be contributed by Ellington Financial's external manager. The respective closing stock prices for Ellington Financial and Arlington on May 26, 2023 imply an offer price of $4.77 per Arlington share, representing a 73% premium to Arlington's share price on May 26, 2023, and a 15% discount to diluted tangible book value per share2 as of March 31, 2023. Upon the closing of the acquisition, Ellington Financial stockholders are expected to own approximately 85% of the combined company's stock, while Arlington stockholders are expected to own approximately 15% of the combined company's stock. In addition, Ellington Financial will assume Arlington's outstanding preferred equity, senior unsecured notes and trust preferred securities.
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IPO - 12/23/1997 - 11.00 Million Shares @ $20.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: AI Changed: 10/26/2020
Previous Name: Friedman, Billings, Ramsey Group, Inc. Changed: 6/10/2009
Micro Cap Stock -
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 6862 Elm Street, Suite 320, McLean, VA 22101 |
| Main Phone Number |
703-373-0200 |
| Fax Number |
703-373-0680 |
| Investor Contact (Secretary)
D. Scott Parish
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703-373-0200
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| Toll Free Phone Number |
800-846-5050 |
| CEO - J. Rock Tonkel, Jr |
CFO - Richard Konzmann |
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