On May 8, 2019, the Federal Agricultural Mortgage Corporation (“Farmer Mac”) priced an offering of $100 million (4,000,000 shares) of 5.700% Non-Cumulative Preferred Stock, Series D (the “Preferred Stock”). The Preferred Stock has a par value of $25.00 per share and a liquidation preference of $25.00 per share, and the net proceeds to Farmer Mac for the Preferred Stock upon settlement are expected to be approximately $96.86 million. Farmer Mac intends to use the net proceeds of the offering>to redeem the $75 million aggregate outstanding par value and liquidation preference of Farmer Mac’s 6.875% Non-Cumulative Preferred Stock, Series B and for general corporate purposes. The settlement date for the Preferred Stock offering is expected to be May 13, 2019. The Preferred Stock was offered in reliance on an exemption from registration under Section 3(a)(2) of the Securities Act of 1933, as amended, because Farmer Mac, a Congressionally chartered corporation, is supervised by and acting as an instrumentality of the United States to authority granted by Congress. The Preferred Stock is not convertible or exchangeable into any other class or series of equity of Farmer Mac.

Item 7.01. Regulation FD Disclosure.

On May 8, 2019, Farmer Mac issued a press release to announce the proposed offering of the Preferred Stock. A copy of the press release is attached to this report as Exhibit 99.1>and is incorporated herein by reference.

On May 8, 2019, Farmer Mac issued a press release to announce the pricing of the offering of the Preferred Stock. A copy of the press release is attached to this report as Exhibit 99.2>and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

>>>>>>>>>99.1 Press Release, dated May 8, 2019

>>>>>>>>>99.2>>>>> Press Release, dated May 8, 2019

FEDERAL AGRICULTURAL MORTGAGE CORP Exhibit
EX-99.1 2 farmermacannouncesproposed.htm EXHIBIT 99.1 Exhibit Farmer Mac Announces Proposed Issuance ofSeries D Preferred StockWASHINGTON,…
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About FEDERAL AGRICULTURAL MORTGAGE CORPORATION (NYSE:AGM)

Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company operates through four segments: Farm & Ranch, the United States Department of Agriculture (USDA) Guarantees, Rural Utilities and Institutional Credit. The Company purchases mortgage loans on agricultural real estate and rural housing under the Farm & Ranch line of business. Under the USDA Guarantees business, Farmer Mac II LLC, a subsidiary of Farmer Mac, purchases agricultural, rural development, business and industry, and community facilities loans guaranteed by the USDA. The Company purchases and guarantees securities backed by rural utilities loans under the Rural Utilities business. Under the Institutional Credit line of business, Farmer Mac purchases or guarantees general obligations of institutions approved by Farmer Mac. The Company sells its guarantees of securities under the AgVantage brand name.