Invesco Mortgage Capital Inc. Files 8-K on Financials

TL;DR

IVR filed an 8-K on July 17, 2024, updating on its financial condition and operations, including preferred stock details.

AI Summary

On July 17, 2024, Invesco Mortgage Capital Inc. filed an 8-K report detailing events related to its financial condition and operations. The filing includes information about its common stock, Series B Cumulative Redeemable Preferred Stock, and Series C Cumulative Redeemable Preferred Stock, all of which had activity or were reported on this date.

Why It Matters

This 8-K filing provides an update on Invesco Mortgage Capital Inc.'s financial condition and operational events, which is crucial for investors to assess the company's current status and future prospects.

Risk Assessment

Risk Level: low — The filing is a routine 8-K report providing standard financial and operational updates, not indicating any immediate or significant new risks.

Key Players & Entities

• Invesco Mortgage Capital Inc. (company) — Registrant
• July 17, 2024 (date) — Date of Report
• Maryland (jurisdiction) — State of Incorporation
• 1331 Spring Street N.W., Suite 2500 Atlanta, Georgia (address) — Business Address

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share IVR New York Stock Exchange
• $5.0 b — 0, 2024: Total investment portfolio of $5.0 billion, including $4.4 billion of Agency
• $4.4 billion — nt portfolio of $5.0 billion, including $4.4 billion of Agency residential mortgage-backed s
• $0.4 billion — residential mortgage-backed securities, $0.4 billion of Agency commercial mortgage-backed se
• $0.2 billion — mmercial mortgage-backed securities and $0.2 billion of to-be-announced securities ("TBAs")
• $446 million — ered investments totaling approximately $446 million Debt-to-equity ratio (2) is estimated
• $4.3 billion — e ratio of total repurchase agreements ($4.3 billion as of June 30, 2024) to total stockhold
• $9.49 — hare is estimated to be in the range of $9.49 to $9.87 (1) . (1) Book value per comm
• $9.87 — stimated to be in the range of $9.49 to $9.87 (1) . (1) Book value per common share
• $106.2 million — red Stock and Series C Preferred Stock ($106.2 million and $183.4 million, respectively), divi
• $183.4 m — s C Preferred Stock ($106.2 million and $183.4 million, respectively), divided by total

Filing Documents

• ivr-20240717.htm (8-K) — 40KB
• ivr-20240717_g1.jpg (GRAPHIC) — 45KB
• 0001437071-24-000021.txt ( ) — 328KB
• ivr-20240717.xsd (EX-101.SCH) — 3KB
• ivr-20240717_def.xml (EX-101.DEF) — 16KB
• ivr-20240717_lab.xml (EX-101.LAB) — 29KB
• ivr-20240717_pre.xml (EX-101.PRE) — 16KB
• ivr-20240717_htm.xml (XML) — 5KB

02

Item 2.02 Results of Operations and Financial Condition. Invesco Mortgage Capital, Inc. (the "Company") is disclosing certain preliminary financial information for the quarter ended June 30, 2024. Preliminary Financial Information as of June 30, 2024: Total investment portfolio of $5.0 billion, including $4.4 billion of Agency residential mortgage-backed securities, $0.4 billion of Agency commercial mortgage-backed securities and $0.2 billion of to-be-announced securities ("TBAs") (1) Unrestricted cash and unencumbered investments totaling approximately $446 million Debt-to-equity ratio (2) is estimated to be 5.6x Economic debt-to-equity ratio (3) is estimated to be 5.9x (1) Represents the implied cost basis of TBAs that are accounted for as derivative financial instruments under U.S. Generally Accepted Accounting Principles ("GAAP"). (2) Debt-to-equity ratio is a U.S. GAAP financial measure calculated as the ratio of total repurchase agreements ($4.3 billion as of June 30, 2024) to total stockholders' equity. (3) Economic debt-to-equity ratio is a non-GAAP financial measure calculated as the ratio of total repurchase agreements ($4.3 billion as of June 30, 2024) and TBAs at implied cost basis ($0.2 billion as of June 30, 2024) to total stockholders' equity. Refer to the section titled "Non-GAAP Financial Measures" below for additional information. The above information is preliminary and subject to completion, including the completion of customary financial statement closing and review procedures for the quarter ended June 30, 2024. As a result, the preliminary financial information set forth above reflects the Company's estimates with respect to such information, based on information currently available to management, and may vary from the Company's actual financial results as of and for the periods noted above. These preliminary estimates are not a comprehensive statement or estimate of the Company's financial results or financial condition. Further

01

Item 8.01 Other Events. The Company is disclosing the following preliminary financial information as of July 12, 2024. Book value per common share is estimated to be in the range of $9.49 to $9.87 (1) . (1) Book value per common share as of July 12, 2024 is adjusted to exclude a pro rata portion of the current quarter's common stock dividend (which for purposes of this calculation is assumed to be the same as the previous quarter) and is calculated as total stockholders' equity less the liquidation preference of the Company's Series B Preferred Stock and Series C Preferred Stock ($106.2 million and $183.4 million, respectively), divided by total common shares outstanding of 50.6 million. The text of Item 2.02 above, with respect to such preliminary financial information, is incorporated herein by reference. Cautionary Notice Regarding Forward-Looking Statements This Current Report on Form 8-K may include statements and information that constitute "forward-looking statements" within the meaning of the U.S. securities laws as defined in the Private Securities Litigation Reform Act of 1995, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include those related to our intention and ability to pay dividends, estimated book value per share and estimated leverage, as well as any other statements other than statements of historical fact. The words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," or similar expressions and future or conditional verbs such as "will," "may," "could," "should," and "would," and any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Any forward-looking statement speaks only as of the

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. Invesco Mortgage Capital Inc. By: /s/ R. Lee Phegley, Jr. R. Lee Phegley, Jr. Chief Financial Officer Date: July 17, 2024

View Full Filing

View this 8-K filing on SEC EDGAR