ARMOUR Residential REIT, Inc. Announces Closing of Public Offering of 4,500,000 Shares of Common Stock

VERO BEACH, Florida, June 30, 2017 -- ARMOUR Residential REIT, Inc. (NYSE: ARR, ARR PrA and ARR PrB) (“ARMOUR” or the “Company”) today announced that it has closed its underwritten public offering of 4,500,000 shares of common stock at a price to the public of $26.40 per share. The gross proceeds to the Company from this offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company, were approximately $118,800,000. ARMOUR has granted the underwriters a 30-day option to purchase up to 675,000 additional shares of common stock. Upon completion of the offering of the 4,500,000 shares, the Company had 41,232,333 shares of common stock outstanding.   

Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan acted as joint book-running managers of the offering. JMP Securities LLC and Nomura Securities International, Inc. acted as co-managers of the offering.

The Company intends to use the net proceeds of the offering to acquire additional target assets as market conditions warrant and for general corporate purposes.

A registration statement relating to the offered securities was filed with the Securities and Exchange Commission (“SEC”) and became effective automatically upon filing. A final prospectus supplement and accompanying base prospectus have also been filed with the SEC, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor New York, NY 10014.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

About ARMOUR Residential REIT, Inc.

ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises (“GSEs”), or guaranteed by the Government National Mortgage Association. In addition, ARMOUR invests in other securities backed by residential mortgages for which the payment of principal and interest is not guaranteed by a GSE or government agency. ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the SEC.

Safe Harbor

Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to: statements about the Company’s future expectations, plans and prospects, including statements regarding the Company’s expected use of proceeds from the Company’s offering of shares of common stock and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” “potential,” “opportunities” and similar expressions. ARMOUR’s actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements. These statements involve numerous risks and uncertainties, including but not limited to, those risk factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 15, 2017, as required under the Securities Act of 1934, as amended, and other filings that ARMOUR makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. ARMOUR is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC’s internet site at www.sec.gov, or the Company website at www.armourreit.com, or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.

Investor Contact:              

James R. Mountain
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340