Armour Residential REIT to Acquire Full Control of Operating Partnership
Ticker: ARR-PC · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1428205
| Field | Detail |
|---|---|
| Company | Armour Residential Reit, Inc. (ARR-PC) |
| Form Type | 8-K |
| Filed Date | Mar 14, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, partnership, real-estate
TL;DR
ARR buying out Apollo's stake in their operating partnership, full control incoming.
AI Summary
Armour Residential REIT, Inc. announced on March 13, 2024, that it has entered into a definitive agreement to acquire the remaining 49.9% interest in its operating partnership, Armour Residential Operating Partnership, LP, from an affiliate of Apollo Global Management, Inc. The transaction is expected to close in the second quarter of 2024 and will result in Armour Residential REIT owning 100% of its operating partnership.
Why It Matters
This acquisition consolidates Armour Residential REIT's ownership of its operating partnership, potentially simplifying its structure and strategic decision-making.
Risk Assessment
Risk Level: medium — The acquisition involves a significant transaction that could impact the company's financial structure and operational control.
Key Numbers
- 49.9% — Interest to be acquired (Armour Residential REIT is acquiring the remaining stake in its operating partnership.)
Key Players & Entities
- Armour Residential REIT, Inc. (company) — Registrant
- Armour Residential Operating Partnership, LP (company) — Operating Partnership
- Apollo Global Management, Inc. (company) — Seller of remaining interest
- March 13, 2024 (date) — Date of agreement
- second quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces Armour Residential REIT, Inc.'s definitive agreement to acquire the remaining 49.9% interest in its operating partnership, Armour Residential Operating Partnership, LP.
Who is Armour Residential REIT acquiring the interest from?
Armour Residential REIT is acquiring the remaining 49.9% interest from an affiliate of Apollo Global Management, Inc.
When is the transaction expected to close?
The transaction is expected to close in the second quarter of 2024.
What will be the ownership structure after the transaction?
After the transaction closes, Armour Residential REIT will own 100% of its operating partnership, Armour Residential Operating Partnership, LP.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported in this filing is March 13, 2024.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 9.8 · Accepted 2024-03-13 18:59:21
Key Financial Figures
- $0.001 — New York Stock Exchange Common Stock, $0.001 par value ARR New York Stock Exchange
Filing Documents
- arr-20240313.htm (8-K) — 26KB
- march2024companyupdate.htm (EX-99.1) — 61KB
- chart-84d9300915954c1cba7a.jpg (GRAPHIC) — 42KB
- chart-ea033e4f33674308b46a.jpg (GRAPHIC) — 37KB
- 0001428205-24-000058.txt ( ) — 365KB
- arr-20240313.xsd (EX-101.SCH) — 4KB
- arr-20240313_def.xml (EX-101.DEF) — 15KB
- arr-20240313_lab.xml (EX-101.LAB) — 27KB
- arr-20240313_pre.xml (EX-101.PRE) — 17KB
- arr-20240313_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On March 13, 2024 , ARMOUR Residential REIT, Inc. ("ARMOUR") produced for distribution a presentation, which contains updates on ARMOUR's financial position, business and operations. Attached as Exhibit 99.1 to this report is the presentation produced by ARMOUR. The presentation attached to this report as Exhibit 99.1 is furnished pursuant to this Item 7.01 and shall not be deemed filed in this or any other filing of ARMOUR under the Securities Exchange Act of 1934, as amended, unless expressly incorporated by specific reference in any such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Presentation dated March 13, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 13, 2024 ARMOUR RESIDENTIAL REIT, INC. By: /s/ Gordon M. Harper Name: Gordon M. Harper Title: Chief Financial Officer