ARMOUR Residential REIT, Inc Announces Effectiveness of One-For-Five Reverse Stock Split

Author: Benzinga Newsdesk | October 02, 2023 06:06am

ARMOUR Residential REIT, Inc. (NYSE:ARR) ("ARMOUR" or the "Company") today announced the effectiveness of its previously announced one-for-five reverse stock split. Beginning with the opening of trading on Monday, October 2, 2023, the Company's common stock will trade on the NYSE on a reverse split-adjusted basis under the same symbol "ARR," but with a new CUSIP of 042315 705 As a result of the reverse stock split, the number of outstanding shares of ARMOUR's common stock was reduced from approximately 245,031,959 to approximately 49,006,392. Concurrently, the authorized number of shares of common stock was reduced from 450,000,000 to 90,000,000. After the reverse stock split, approximately 40,993,608 shares of common stock remain available for future issuances. The par value of ARMOUR's common stock remains at $0.001 per share after the reverse stock split. The number of shares of ARMOUR's 7.00% Series C Cumulative Preferred Stock outstanding and their preference amount and dividend rate are not affected by this reverse stock split.
 

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