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PennyMac Mortgage Investment Trust Announces Pricing of Public Offering of Common Shares

August 09, 2019 / BUSINESS WIRE

PennyMac Mortgage Investment Trust (PMT) announced today the pricing of an underwritten public offering of 8,000,000 common shares of beneficial interest (“shares”) for total estimated gross proceeds of approximately $174 million (or approximately $200 million if the option to purchase additional common shares is exercised in full). The underwriters have a 30-day option from the date of the offering to purchase up to an additional 1,200,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on August 13, 2019. All of the shares were offered by the Company and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds from the offering for general corporate purposes, including funding its investment activity, which may include investments in credit risk transfer securities, mortgage ...