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American Capital Mortgage (MTGE) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
American Capital Mortgage (NASDAQ:MTGE) is a Real Estate Investment Trust (REIT) that began activity upon the completion of its Initial Public Offering (IPO). The company expects to create and manage a mortgage portfolio. American Capital Mortgage competes with other young REIT such as AG Mortgage Investment Trust and Apollo Residential Mortgage.[1] American Capital Mortgage has no actual employees. Instead, it is managed by American Capital MTGE Management, a LLC. The CEO of this managing company is also the CEO of American Capital Agency (AGNC), an REIT that is publicly traded.[2]
Business Overview
Because the company began activity upon the completion of its IPO, it did not have any historical financial or operating data prior to its IPO.[3]
New Updates
The company's initial public offering of stock on the NASDAQ occurred on August 3, 2011. The company offered 8M shares each for $20. The company had originally announced that it would sell 17.5M shares. This decreased the deal size from $350M to $160M. The lead underwriters of the deal were Citigroup (C), Deutsche Bank AG (DB), and UBS AG (UBS).[4]
Trends & Forces
Potential for conflict of interest
American Capital Mortgage has no employees and the CEO of its managing company is also the CEO of American Capital Agency (AGNC), another publicly traded REIT. This may create a conflict of interest as the managing company and its CEO may not be able to provide enough time and effort to the MTGE. In addition, the two REIT companies may compete with one another for the same deals. This may hurt American Capital Mortgage disproportionately. [5][6]
- ↑ MTGE S-11/A 2011 PROSPECTUS SUMMARY "Our Company" pg3
- ↑ MTGE S-11/A 2011 PROSPECTUS SUMMARY "Our Manager" pg3-4
- ↑ MTGE S-11/A 2011 PROSPECTUS SUMMARY "American Capital Agency Corp" pg69
- ↑ Renaissance Capital - IPO Home "American Capital Mortgage prices a downsized IPO at $20" 4 August 2011
- ↑ MTGE S-11/A 2011 PROSPECTUS SUMMARY "Risk Factors" pg 17
- ↑ The Street "2 IPOs to Skip: American Capital Mortgage, WageWorks"
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