Javelin Mortgage Investment Corp. (NYSE: JMI) Director, Marc H. Bell, recently bought 125,000 shares of JMI common stock for $20 per share.
Javelin Mortgage Investment is a real estate investment trust (REIT). Javelin invests in and manages a leveraged portfolio of agency mortgage-backed securities, non-agency mortgage-backed securities and other mortgage-related investments. The company is externally managed and advised by ARMOUR Residential Management LLC.
Earlier this month, JMI announced the pricing of its IPO of 7,250,000 shares of common stock. The company said that it is raising a total of $150 million in gross proceeds in its IPO and concurrent private placement. The IPO was priced at $20 per share, raising $145 million in gross proceeds. The company also granted the underwriters to the IPO a 30-day option to acquire up to an additional 1,087,500 shares of common stock to cover over-allotments, if any.
JMI also said that it is selling 250,000 shares of its common stock for $20 per share in a concurrent private placement. The gross proceeds from the private placement were $5 million.
JMI’s shares began trading on the NYSE on October 4th 2012. Shares are currently trading at $19.60, which is slightly below the IPO price of $20 per share.
JMI plans to use the proceeds from the offering and concurrent private placement to acquire its target assets, which include residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored entities, residential mortgage-backed securities that are not issued or guaranteed by U.S. Government-sponsored entities and other mortgage-related investments.
the co�W yr ����its fourth-quarter and fiscal year 2012 financial results. For the quarter ended August 25, 2012, WGO reported revenue of $162.5 million, representing an increase of 24.5% over the same period in the previous year. The company’s operating income for the quarter was $6.5 million, compared to $1.8 million reported for the same period in the previous year. Net income for the quarter was $40.9 million, or $1.41 per share, compared to $3.5 million, or $0.12 per share reported for the same period in the previous year.
Shares of Stillwater Mining Company (NYSE: SWC), a company engaged in the development, extraction, processing, smelting, refining and marketing of palladium, platinum and associated metals from a geological formation in south-central Montana, the J-M Reef, and from the recycling of spent catalytic converters, are down sharply in trading today.
At last check, SWC shares were trading 7.18% lower at $11.25 on volume of 1.07 million. The stock fell to an intra-day low of $11.10 in trading today.
SWC shares are down sharply in trading today after the company announced that it plans to offer $300 million aggregate principal amount of convertible senior notes due 2032. The company plans to use the net proceeds from the offering to repay amounts that may come due under its outstanding 1.875% convertible debentures in March 2013.
Shares of Cooper Tire & Rubber Company (NYSE: CTB), a manufacturer and marketer of replacement tires, are soaring in trading today. At last check, CTB shares were trading 7.65% higher at $20.12 on volume of 960,576. The stock hit an intra-day high of $20.76 in trading today.
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