Armour Residential (ARR) expands equity sales program

Armour Residential REIT, Inc. (NYSE: ARR) has announced an expansion of its equity sales program, adding 15 million shares to its "at the market" offering, according to a recent SEC filing. The company entered into the Fifth Sales Agreement Amendment on Thursday, allowing for the additional sale of common stock under its existing Equity Sales Agreement.

The Vero Beach, Florida-based real estate investment trust initially established the equity sales program on July 26, 2023, and has since amended the agreement multiple times to increase the number of shares available for sale. The latest amendment brings the total number of shares that may be offered and sold by the company to 24,049,403, which includes the 9,049,403 shares remaining unsold from previous amendments.

The offering is being conducted through sales agents including BUCKLER Securities LLC, B. Riley Securities, Inc., Citizens JMP Securities LLC, JonesTrading Institutional Services LLC, Ladenburg Thalmann & Co. Inc., and others. Armour Residential REIT's external manager, ARMOUR Capital Management LP, is also part of the amended sales agreement.

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