Armour住宅房产美股招股说明书(2025-08-05版)

This information in this preliminary prospectus supplement and the accompanying prospectus is not complete and may be changed. Thispreliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an offerto buy these securities in any state where the offer or sale is not permitted. Common Stock We are selling 18,500,000 shares of common stock, par value $0.001 per share, as described in this prospectus supplement and theaccompanying prospectus. Our common stock and 7.00% Series C Cumulative Redeemable Preferred Stock (“Series C Preferred Stock”) are listed on theNew York Stock Exchange (the “NYSE”) under the symbols “ARR” and “ARR PRC,” respectively. The last reported sales prices of our common stock on the NYSE on August 4, 2025 was $16.80 per share. We have elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. To assist us inqualifying as a REIT, among other purposes, stockholders are generally restricted under our charter from beneficially owning more than9.8% by value or number of shares, whichever is more restrictive, of our outstanding shares of common stock. In addition, our chartercontains various other restrictions on the ownership and transfer of our common stock. The underwriters have agreed to purchase our common stock from us at a price of $ per share, which will result in approximately$ of total net proceeds to us (or $ if the underwriters exercise their option to purchase additional shares of common stock in full), beforeexpenses. The underwriters may offer our common stock in transactions on the NYSE, in the over-the-counter market or throughnegotiated transactions at market prices or at negotiated prices. See “Underwriting” in this prospectus supplement for more information. We have granted the underwriters an option for a period of 30 days to purchase an additional 2,775,000 shares of our commonstock. Delivery of the shares of our common stock is expected be made on or about August , 2025. Investing in our securities involves risks. You should carefully consider the risks described or referred to under “Risk Factors” onpage S-4 of this prospectus supplement and on page 7 of the accompanying prospectus, in our most recent Annual Report on Form 10-Kand any subsequent Quarterly Reports on Form 10-Q (which descriptions are incorporated by reference herein) and any amendment orupdate thereto reflected in subsequent filings with the SEC and incorporated by reference in this prospectus supplement and theaccompanying prospectus, as well as in the other information contained or incorporated by reference in this prospectus supplement heretoand the accompanying prospectus, before making a decision to invest in our securities. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of thesesecurities or determined that this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. BookrunnerGoldman Sachs & Co. LLC Co-ManagerBUCKLER Securities LLC The date of this prospectus supplement is August , 2025 ABOUT THIS PROSPECTUS SUPPLEMENTS-iiSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSS-iiiPROSPECTUS SUPPLEMENT SUMMARYS-1THE OFFERINGS-3RISK FACTORSS-4USE OF PROCEEDSS-6MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONSS-7DIVIDEND POLICYS-8UNDERWRITINGS-9LEGAL MATTERSS-14EXPERTSS-15WHERE YOU CAN FIND MORE INFORMATIONS-16INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCES-17 PROSPECTUS You should rely only on the information contained in or incorporated by reference in this prospectus supplement and theaccompanying prospectus. We have not authorized anyone to provide you with different information. We are not making an offerof these securities in any state where the offer is not permitted. You should not assume that the information contained in thisprospectus supplement and the accompanying prospectus is accurate as of any date other than the date on the front of thisprospectus supplement. ABOUT THIS PROSPECTUS SUPPLEMENT This prospectus supplement is a supplement to the accompanying prospectus that is also a part of this document. This prospectussupplement and the accompanying prospectus are part of a registration statement on Form S-3 that we filed with the Securities andExchange Commission, or SEC or Commission, using a"shelf" registration process. This prospectus supplement and the accompanyingprospectus contain specific information about us and the terms on which we are offering and selling shares of our common stock. To theextent that any statement made in this prospectus supplement is inconsistent with statements made in the prospectus, the statements madein the prospectus will be deemed modified or superseded by those made in this prospectus supplement. Before you purchase shares of ourcommon stock, you should carefully read this prospectus supplement, the accompanying prospectus and