logo
Share SHARE
FONT-SIZE Plus   Neg

Newcastle Investment Plans To Make Public Offering Of 40 Mln Shares

Newcastle Investment Corp. (NCT) announced it plans to make a public offering of 40 million shares of common stock. The company also intends to grant the underwriters an option for 30 days to purchase up to an additional 6 million shares of common stock.

The company intends to use the net proceeds for general corporate purposes, including to make a variety of investments. The company said it may apply some or all of such proceeds to fund a co-investment in excess mortgage servicing rights on a portfolio with an unpaid principal balance of approximately $215 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A Brazilian judge has ordered all wireless phone carriers in the country to block WhatsApp after the Facebook-owned messaging service failed to comply with an order asking to turn over data related to a criminal investigation. According to reports, the app, which is used by over 100 million Brazilians,... Amazon.com Inc. intends to bring its free same-day delivery to the Bronx and Chicago's South Side areas. The online retailer's plans comes after severe criticism were raised that the company unfairly left out some predominantly black and Hispanic areas from its Prime service. An analysis done by... Sprint Corp., the third largest U.S. wireless carrier, on Tuesday reported a loss for the fourth quarter that widened from last year on one-time charges and lower revenues. The latest quarter's results include charges related to severance and lease exit costs, including the shutdown of legacy WiMAX service that will free up valuable spectrum and immediately lower network costs.
comments powered by Disqus
Follow RTT