CYS Investments, Inc. (ticker: CYS, exchange: New York Stock Exchange (.N))
News Release -
Cypress Sharpridge Investments, Inc. Launches Common Stock Offering
NEW YORK, Jun 23, 2010 (BUSINESS WIRE) --Cypress Sharpridge Investments, Inc. (NYSE: CYS) (the "Company") today
announced that it plans to offer, subject to market and other
conditions, 8,000,000 shares of its common stock in an underwritten
public offering. The Company also plans to grant the underwriters an
option for 30 days to purchase up to an additional 1,200,000 shares of
common stock. Barclays Capital Inc. is the sole book runner for the
offering. JMP Securities LLC and Stifel, Nicolaus & Company,
Incorporated are co-lead managers and Oppenheimer & Co. Inc. is a
co-manager for the offering.
The Company intends to invest the net proceeds of the offering in Agency
RMBS and for general corporate purposes.
The offering will be made pursuant to the Company's existing shelf
registration statement previously filed with and declared effective by
the Securities and Exchange Commission. This press release is neither an
offer to sell nor a solicitation of an offer to buy shares of common
stock. The offering of these securities will be made only by means of a
prospectus and a related prospectus supplement, a copy of which may be
obtained by contacting Barclays Capital Inc., by mail c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
email at Barclaysprospectus@broadridge.com
or by telephone at 1 (888) 603-5847.
About Cypress Sharpridge Investments, Inc.
Cypress Sharpridge Investments, Inc. is a specialty finance company that
invests on a leveraged basis in residential mortgage pass-through
securities for which the principal and interest payments are guaranteed
by Fannie Mae, Freddie Mac or Ginnie Mae. Cypress Sharpridge Investments
has elected to be taxed as a real estate investment trust for federal
income tax purposes.
Forward Looking Statements Disclaimer
This press release contains "forward-looking statements" made pursuant
to the safe harbor provisions of the Private Securities Reform Act of
1995, including with regard to the Company's planned offering of common
stock and the anticipated use of proceeds. Forward-looking statements
typically are identified by use of the terms such as "believe,"
"expect," "anticipate," "estimate," "plan," "continue," "intend,"
"should," "may" or similar expressions. Forward-looking statements are
based on our beliefs, assumptions and expectations of our future
performance, taking into account all information currently available to
us. No assurance can be given that the offering discussed above will be
consummated on the terms described or at all, or that the net proceeds
of the offering will be used as indicated. Consummation and the terms of
the offering, and the application of the net proceeds of the offering,
are subject to numerous possible events, factors and conditions, many of
which are beyond the control of the Company and not all of which are
known to us, including, without limitation, market conditions and those
described in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2009, and our Quarterly Report on Form 10-Q for the fiscal
quarter ended March 31, 2010, each of which has been filed with the
Securities and Exchange Commission. All forward-looking statements speak
only as of the date on which they are made. New risks and uncertainties
arise over time, and it is not possible to predict those events or how
they may affect us. Except as required by law, we are not obligated to,
and do not intend to, update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
SOURCE: Cypress Sharpridge Investments, Inc.
Cypress Sharpridge Investments, Inc.
Richard E. Cleary, 212-612-3210
Chief Operating Officer