ANWORTH MORTGAGE ASSET CORPORATION (NYSE:ANH) Files An 8-K Material Modification to Rights of Security Holders

ANWORTH MORTGAGE ASSET CORPORATION (NYSE:ANH) Files An 8-K Material Modification to Rights of Security Holders

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Item 3.03

Material Modification to Rights of Security
Holders.

On June 30, 2017, Anworth Mortgage Asset Corporation (Anworth)
announced that, in accordance with the terms of Anworths 6.25%
Series B Cumulative Convertible Preferred Stock (the Series B
Preferred Stock), the conversion rate of the Series B Preferred
Stock will increase from 4.8469 shares of Anworths common stock
to 4.8804 shares of its common stock effective July 3, 2017.

As previously announced on June 15, 2017, the board of directors
of Anworth declared a quarterly common stock dividend of $0.15
per share, which is payable on July 28, 2017 to holders of record
of Anworths common stock as of the close of business on June 30,
2017. When Anworth pays a cash dividend during any quarterly
fiscal period to its holders of common stock in an amount that
results in an annualized common stock dividend yield greater than
6.25% (the dividend yield on the Series B Preferred Stock), the
conversion rate on the Series B Preferred Stock is adjusted based
on a formula specified in the Articles Supplementary Establishing
and Fixing the Rights and Preferences of the Series B Preferred
Stock. As a result of this dividend, the conversion rate of the
Series B Preferred Stock will increase from 4.8469 shares of
Anworths common stock to 4.8804 shares of its common stock
effective July 3, 2017.

Item 8.01 Other Events.

On June 30, 2017, Anworth issued a press release (the Press
Release) announcing that in accordance with the terms of Anworths
6.25% Series B Cumulative Convertible Preferred Stock (Series B
Preferred Stock), the conversion rate of the Series B Preferred
Stock will increase from 4.8469 shares of Anworths common stock
to 4.8804 shares of its common stock effective July 3, 2017.

A copy of the Press Release is filed as Exhibit 99.1 to this
Current Report on Form 8-K.

As discussed therein, the Press Release contains forward-looking
statements within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act and, as such, may involve
known and unknown risks, uncertainties and assumptions. These
forward-looking statements relate to Anworths current
expectations and are subject to the limitations and
qualifications set forth in the press release as well as in
Anworths other documents filed with the U.S. Securities and
Exchange Commission, including, without limitation, that actual
events and/or results may differ materially from those projected
in such forward-looking statements.

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Item 9.01 Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Not Applicable.
(d) Exhibits.

Exhibit 99.1

Press Release dated June 30, 2017 announcing an increase to
the conversion rate of Anworths 6.25% Series B Cumulative
Convertible Preferred Stock effective July 3, 2017.
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ANWORTH MORTGAGE ASSET CORP Exhibit
EX-99.1 2 a51583019ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 Anworth Announces Increase to Series B Preferred Stock Conversion Rate SANTA MONICA,…
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About ANWORTH MORTGAGE ASSET CORPORATION (NYSE:ANH)

Anworth Mortgage Asset Corporation is a real estate investment trust (REIT). The Company’s investment objective is to provide risk-adjusted total returns to its stockholders over the long-term through dividends and through capital appreciation. Its strategy is to invest in residential mortgage-backed securities (MBS) and residential mortgage loans. Its principal business objective is to generate net income for distribution to its stockholders based upon the spread between the interest income on its mortgage assets and its borrowing costs to finance its acquisition of those assets. It finances residential mortgage loans through asset-backed securities issued by the consolidated securitization trusts. It also has a small portfolio of residential real estate properties. The Company is engaged in investing in, financing and managing a portfolio of residential mortgage-backed securities and residential mortgage loans. It is managed and advised by Anworth Management, LLC (Manager).

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