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Based in Vero Beach, FL, Javelin Mortgage Investment (NYSE: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.

SUMMARY
JMI is a newly formed, blank check mortgage REIT.

CONCLUSION
If an investor is interested in mortgage REITs, then there are a number of seasoned REITS to choose from, including Annaly Capital (NYSE:NLY), Chimera Investment (NYSE:CIM), and Hatteras Financial (NYSE:HTS).

Therefore, avoid the JMI IPO.

Valuation Ratios

IPO Mrkt

Price /

Price /

% offered

Cap ($MM)

BookValue

TangibleBV

in IPO

JAVELIN Mortgage Investment (JMI)

$130

1.0

1.0

97%

Financial term glossary

BUSINESS
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.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Source: IPO Preview: Javelin Mortgage Investment