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Cypress Sharpridge Investments, Inc. Announces Closing of Common Stock Offering

^{Published on 2010-06-30 14:11:59 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Cypress Sharpridge Investments, Inc. (NYSE: CYS) (the aCompanya) announced that it closed a public offering of 10,925,000 shares of its common stock, including 1,425,000 shares pursuant to an option that was fully exercised by the underwriters, at a public offering price of $12.50 per share for total net proceeds of approximately $129.5 million, after the underwriting discount and commissions and estimated expenses.

The Company intends to invest the net proceeds of the offering in Agency RMBS and for general corporate purposes.

Barclays Capital Inc. was the sole book runner for the offering. JMP Securities LLC and Stifel, Nicolaus & Company, Incorporated were co-lead managers and Oppenheimer & Co. Inc. was a co-manager for the offering.

About Cypress Sharpridge Investments, Inc.

Cypress Sharpridge Investments, Inc. is a specialty finance company that invests on a leveraged basis in residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. The Company refers to these securities as Agency RMBS. The Company has elected to be taxed as a real estate investment trust for federal income tax purposes.

Forward Looking Statements Disclaimer

This press release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995, including with regard to the anticipated use of proceeds. Forward-looking statements typically are identified by use of the terms such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. No assurance can be given that the net proceeds of the offering will be used as indicated. The application of the net proceeds of the offering is subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to us, including, without limitation, market conditions and those described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2010, each of which has been filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect us. Except as required by law, we are not obligated to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.