Annaly Capital Management Announces the Filing of Registration Statement on Form S-11 for an Initial Public Offering of Chimera Investment Corporation.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Annaly Capital Management, Inc. (NYSE NYSE See: New York Stock Exchange : NLY) today announced the filing of a registration statement on Form S-11 with the Securities and Exchange Commission for an initial public offering of the common stock of Chimera Investment Corporation. Chimera is a newly-formed specialty finance company that will invest in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes. Chimera will be externally managed by Fixed Income Discount Advisory Company, or FIDAC FIDAC Fixed Income Discount Advisory Company FIDAC Fireball Data Center FIDAC Federazione Italiana Dipendenti Aziende di Credito (Italian labor union) , a wholly-owned subsidiary of Annaly, a New York Stock Exchange-listed real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ). Concurrent with this offering, Annaly will acquire 9.8% of Chimera's outstanding shares of common stock after giving effect to the shares issued in the offering, excluding shares sold pursuant to the underwriters' exercise of their overallotment option overallotment option See greenshoe. . Chimera intends to elect and qualify to be taxed as a REIT for federal income tax purposes. Merrill Lynch & Co. will act as the sole lead manager and book-runner for the proposed offering. The public offering will be made only by means of a prospectus which, when available, may be obtained by writing or calling Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department (Tel: 212-449-1000). A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. About Annaly Capital Management, Inc. Annaly manages assets on behalf of institutional and individual investors worldwide through Annaly and through the funds managed by its wholly-owned registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in , FIDAC. Annaly's principal business objective is to generate net income for distribution to investors from the spread between the interest income on its mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. and the cost of borrowing to finance their acquisition and from dividends Annaly receives from FIDAC, which earns investment advisory fee income. Annaly is a Maryland corporation that has elected to be taxed as a REIT. |
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