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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): July 3, 1997
THORNBURG MORTGAGE ASSET CORPORATION
(Exact name of registrant as specified in its charter)
MARYLAND 011-11914 85-0404134
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
119 EAST MARCY STREET
SANTA FE, NEW MEXICO 87501
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (505) 989-1900
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(Former name or former address, if changed since last report.)
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ITEM 5 OTHER EVENTS.
On July 3, 1997, in connection with the Company's registration
statement, No. 333-16799 (the "Registration Statement"), a Press Release was
issued announcing the filing of the prospectus supplement with the Securities
and Exchange Commission for the public offering of 2,000,000 shares of common
stock.
A form of the Press Release has been filed as an exhibit to this report
and is incorporated by reference herein. This report, including the Press
Release filed as an exhibit hereto, is incorporated by reference into the
Registration Statement.
ITEM 7(c) EXHIBITS.
The following exhibits are filed as part of this report in accordance
with the provisions of Item 601 of Regulation S-K:
EXHIBIT NAME OF EXHIBIT
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99.0 Press Release dated July 3, 1997
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SIGNATURE
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.
THORNBURG MORTGAGE ASSET CORPORATION
Date: July 3, 1997 By: /s/ RICHARD STORY
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Richard P. Story
Chief Financial Officer and Treasurer
(Principal Accounting Officer)
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EXHIBIT INDEX
EXHIBIT
NUMBER NAME OF EXHIBIT
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99.0 Press Release dated July 3, 1997
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EXHIBIT 99.0
PRESS RELEASE
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[THORNBURG MORTGAGE ASSET CORPORATION LETTERHEAD]
For Immediate Release -- July 3, 1997
THORNBURG MORTGAGE ANNOUNCES
COMMON STOCK OFFERING
SANTA FE, NM.....Thornburg Mortgage Asset Corporation (NYSE: TMA) today
announced the filing of a prospectus supplement with the Securities and
Exchange Commission for the public offering of 2,000,000 shares of common
stock. TMA also granted the underwriters an option to purchase up to 300,000
additional shares of common stock to cover over-allotments, if necessary. The
company's stock closed at $21.88 on July 2, 1997.
Larry A. Goldstone, president, stated "This offering will provide the
company with additional capital to finance its growing adjustable-rate mortgage
(ARM) securities portfolio. We continue to identify attractive, high quality
investment opportunities for the portfolio and believe this offering -- as was
the case with our previous offerings -- will further improve earnings prospects
for the company."
This offering is being underwritten by PaineWebber Incorporated and
Friedman, Billings, Ramsey & Co., Inc. A copy of the prospectus supplement and
accompanying prospectus may be obtained from the underwriters.
Thornburg Mortgage Asset Corporation is a special purpose mortgage
financial institution that invests in a portfolio of high quality ARM
securities. The company generates income from both its direct investment in
these securities and the difference between the yield on its assets and costs
of its borrowings. Its objective is to grow earnings per share by increasing
its investment in high quality assets. TMA accomplishes this by periodically
issuing new shares and deploying the new equity consistent with its business
strategy. As a real estate investment trust (REIT), TMA distributes the
majority of its income to shareholders in the form of dividends.
This release shall not constitute an offer to sell or the solicitation
of any offer to buy nor shall there be any sales of these securities in any
state in which such offer, solicitation or sales would be unlawful prior to
registration or qualification under the securities law of any such state.
Certain matters discussed in this news release may constitute
forward-looking statements within the meaning of the federal securities laws.
Actual results and the timing of certain events could differ materially from
those projected in or contemplated by the forward-looking statements due to a
number of factors, including general economic conditions, interest rates, the
availability of ARM securities portfolios for acquisition and other risk
factors outlined in the company's SEC reports and the annual report or Form
10-K.
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Contacts: Larry Goldstone or Rick Story @ 505/989-1900
Hal Levine, The Levine Group @ 212/682-8875
