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Subsequent Events
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6 Months Ended |
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Jun. 30, 2011
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| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
On July 15, 2011, the Company completed a follow-on public offering of 42,000,000 shares of its common stock and subsequently issued an additional 6,300,000 shares of common stock pursuant to the underwriters' over-allotments at a price of $10.15 per share, for gross proceeds of approximately $490.2 million. Net proceeds to the Company from the offerings were approximately $483.6 million, net of issuance costs of approximately $6.7 million.
On July 26, 2011, the Company extended its Master Repurchase and Securities Contract with Wells Fargo Bank, National Association, with an increased borrowing capacity of $150 million. The repurchase facility has a term of 364 days and will be used from time to time to finance certain of its non-Agency securities held with the Company's RMBS portfolio.
Events subsequent to June 30, 2011 were evaluated through the date these financial statements were issued.
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