Based in Vero Beach, FL, Javelin Mortgage Investment (JMI) scheduled a $126 million IPO with a market capitalization of $130 million at a price range mid-point of $20 for Thursday, October 4, 2012.
Eight IPOs scheduled for the week of October 1. Full IPO calendar available here.
S-11A filed September 24, 2012
Manager, Joint Managers: Deutsche; Citigroup; Barclays; Credit Suisse
Co Managers: JMP Securities; Ladenburg Thalmann; Oppenheimer; Mitsubishi UFJ Securities; Aegis Capital; Maxim Group; National Securities.
JMI is a newly formed, blank check mortgage REIT.
If an investor is interested in mortgage REITs, then there are a number of seasoned REITS to choose from, including Annaly Capital (NLY), Chimera Investment (CIM), and Hatteras Financial (HTS).
Therefore, avoid the JMI IPO.
JAVELIN Mortgage Investment (JMI)
JMI is a newly-organized Maryland corporation formed to invest in and manage a leveraged portfolio of agency mortgage-backed securities, non-agency mortgage-backed securities and other mortgage-related investments.
USE OF PROCEEDS
JMI expects to net $130 million from its IPO.
JMI plans to use all the net proceeds from this offering and the concurrent private placement to acquire target assets in accordance with JMI's objectives and strategies.