Annaly Capital Management Acquires Signal Hill Mortgage Capital
Ticker: NLY-PJ · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1043219
| Field | Detail |
|---|---|
| Company | Annaly Capital Management Inc (NLY-PJ) |
| Form Type | 8-K |
| Filed Date | Jun 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, residential-mortgage, expansion
Related Tickers: NLY
TL;DR
Annaly buying Signal Hill Mortgage to boost its residential lending biz. Deal expected Q3.
AI Summary
Annaly Capital Management Inc. announced on June 6, 2024, that it has entered into a definitive agreement to acquire a residential mortgage loan originator, Signal Hill Mortgage Capital LLC, for an undisclosed amount. This acquisition is expected to close in the third quarter of 2024 and is intended to enhance Annaly's residential credit business.
Why It Matters
This acquisition signifies Annaly's strategic move to expand its residential credit operations, potentially leading to increased market share and diversified revenue streams in the mortgage sector.
Risk Assessment
Risk Level: medium — Acquisitions inherently carry integration risks, potential overpayment, and the possibility of not achieving expected synergies, while the specific financial terms are not disclosed.
Key Players & Entities
- Annaly Capital Management Inc (company) — Registrant
- Signal Hill Mortgage Capital LLC (company) — Target company for acquisition
- June 6, 2024 (date) — Date of report and announcement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary strategic rationale behind Annaly Capital Management's acquisition of Signal Hill Mortgage Capital LLC?
The acquisition is intended to enhance Annaly's residential credit business.
When is the acquisition of Signal Hill Mortgage Capital LLC expected to be completed?
The acquisition is expected to close in the third quarter of 2024.
What type of business is Signal Hill Mortgage Capital LLC?
Signal Hill Mortgage Capital LLC is a residential mortgage loan originator.
What is the reported date of this Form 8-K filing?
The report date is June 6, 2024.
Has Annaly Capital Management disclosed the purchase price for Signal Hill Mortgage Capital LLC?
No, the filing indicates the acquisition is for an undisclosed amount.
Filing Stats: 598 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-06-06 08:21:17
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share NLY New York Stock Exchange
Filing Documents
- nly-20240606.htm (8-K) — 36KB
- a8k240606ex991.htm (EX-99.1) — 9KB
- image_0a.jpg (GRAPHIC) — 7KB
- 0001628280-24-026965.txt ( ) — 235KB
- nly-20240606.xsd (EX-101.SCH) — 3KB
- nly-20240606_def.xml (EX-101.DEF) — 16KB
- nly-20240606_lab.xml (EX-101.LAB) — 31KB
- nly-20240606_pre.xml (EX-101.PRE) — 17KB
- nly-20240606_htm.xml (XML) — 6KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. Annaly Capital Management, Inc. (the "Company") hereby furnishes the information set forth in the press release (the "Press Release") announcing the publication of its fifth corporate responsibility report for the year 2023, titled Powering American Homeownership, attached hereto as Exhibit 99.1, which is incorporated herein by reference. The Press Release is being furnished pursuant to Item 7.01, and the information contained therein shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release, dated June 6 , 202 4 101 Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language). 104 Cover page interactive data file (formatted in iXBRL in Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ANNALY CAPITAL MANAGEMENT, INC. (REGISTRANT) By: /s/ Anthony C. Green Name: Anthony C. Green Title: Chief Corporate Officer & Chief Legal Officer Dated: June 6, 2024