Invesco Mortgage Capital (NYSE: IVR) is tapping the stock market for a new round of fundraising. The mortgage real estate investment trust (mREIT) announced on Tuesday that it has priced an upcoming secondary common-stock issue at $3.83 per share. The company will sell 24 million shares in the flotation, so if it goes according to plan, Invesco stands to raise $91.9 million in gross proceeds. Originally, it planned to issue only 22 million shares. Image source: Getty Images. In addition to those 24 million shares, the mREIT has granted the issue's underwriters a 30-day option to buy up to an extra 3.6 million shares. In its announcement, Invesco said it intends to use the net proceeds "to purchase assets within its target asset classes, subject to its investment guidelines, and to the extent consistent with maintaining its REIT qualification, and for other general corporate purposes." It didn't get any more specific. In contrast to equity REITs, which own and manage property directly, mREITs like Invesco hold the mortgages that finance real estate. The mREIT universe was shaken badly by the coronavirus pandemic last year, and mREITs in general (and Invesco specifically) have since been in recovery mode. After selling off assets and slashing its dividend, a slimmed-down Invesco continued to shore up its business. The new stock flotation should help it continue to get back on its feet. The company said the issue should close on Thursday, Feb. 4. Since it is somewhat dilutive (Invesco currently has nearly 181.4 million shares outstanding), investors aren't too happy about it. The company's stock closed 4.2% lower on Tuesday. 10 stocks we like better than Invesco Mortgage CapitalWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Invesco Mortgage Capital wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source