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
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT