- As part of its 2M share buyback program, Javelin Mortgage (JMI -1.6%) will buy back 516K shares owned by Phillip Goldstein's Bulldog Investors at $12.7574 per share (a nickel less than the volume-weighted average price on Friday), and Bulldog agrees to pull its slate of nominees to the board.
- Bulldog has agitated for Javelin to speed up the pace of buybacks while the stock remains so far below book value (at $12.66 currently, the stock is at a 13.8% discount to Sept. 30 book of $14.69).
- Adding the shares from this deal, Javelin will have spent $15.275M YTD buying back about 9% of the float.
- Press release
From other sites
JAVELIN MORTGAGE INVESTMENT : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)at 4-traders.com (Mon, 5:28PM)
Javelin Mortgage Investment Corp. Reports Q1 2015 Core and Estimated Taxable REIT Income of $1.9 Millionat 4-traders.com (Mon, 4:06PM)
at Nasdaq.com (Jan 9, 2015)
at Nasdaq.com (Jan 8, 2015)
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