American Capital Agency Pain From Secondary (AGNC)

Posted in after-hours, pre-market 
October 27th, 2009

American Capital Agency Corp. (NASDAQ: AGNC), a mortgage REIT, was one of last night’s big losers after the company priced a 5,000,000 common share secondary offering at $26.60 per share.  The problem is that the stock closed at $28.14 yesterday.  Shares fell 4.5% to $26.87 on some 147,000 shares in the after-hours session after the deal was announced. UPDATE AT 9:10 AM EST: shares are down 6.1% at $26.43 on 296,000 shares.

At 8:37 AM EST we have seen some 115,000 shares trade hands and the stock is down 5.8% at $26.50.

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