FONT-SIZE Plus   Neg

PennyMac Mortgage Investment Trust Prices Common Share Offering

PennyMac Mortgage Investment Trust (PMT) said Tuesday that it has priced an underwritten public offering of 10 million common shares of beneficial interest.

The underwriters have a 30-day option from the date of the offering to purchase up to an additional 1.5 million shares from the company.

Settlement of the offering is expected to occur on May 11.

The company plans to use the net proceeds from the offering to fund a portion of the purchase price for two portfolios of residential whole mortgage loans, if such acquisitions are completed, to fund the continued growth of its correspondent lending business, to acquire additional mortgage loans or other investments, including those under existing forward purchase agreements, and for general corporate purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Germany's Deutsche Bank AG reported Thursday a profit in its third quarter, compared to loss a year ago. Last year, the company had registered a hefty 5.8 billion euros impairment charge related to Hua Xia Bank Co. Revenues also were higher in the quarter. Shares of Nokia Corp. were losing around 8 percent in the early morning trading after the Finnish network equipment maker reported a loss in its third quarter, compared to a profit last year. The results reflected costs related to Alcatel-Lucent deal. The company also said its Chief Financial Officer Timo Ihamuotila resigned to join Swiss engineering firm ABB Ltd. as CFO. Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a profit for the third quarter beating Wall Street estimates by a large margin, driven primarily by record production and deliveries. Shares of the company gained over 5 percent in extended hours after the company reaffirmed its delivery...
comments powered by Disqus
Follow RTT