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Shares of Apollo Residential Mortgage (AMTG) trail off 5.8% premarket after the firm discloses a...
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Tuesday, April 17, 2012, 9:01 AM ETShares of Apollo Residential Mortgage (AMTG) trail off 5.8% premarket after the firm discloses a public offering of 13.9M shares of its common stock. The company says that it plans to use the proceeds to buy a variety of mortgage-backed securities.
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NAV is 19.92. Management would be crazy to price the new shares so much below NAV and screw current holders.
JMO