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
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Follow RTT