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
Hollywood is spending more than ever to produce movies, with new technology and computer graphics imaging (CGI) bringing superheroes to life. Directors constantly one-up one another with special effects, while actors like Johnny Depp or Tobey Maguire are demanding beaucoup bucks to reprise their... Sluggish sales of video games have forced GameStop to take a decision to close around 150 retail locations. Digital downloads and competition from rivals are said to be the reason for shut down. The company operates around 6600 stores worldwide and has not revealed the list of shops to be closed. According to reports GameStop is planning the closure of up to 3 percent of their shops. After coming under fire for its decision to bar two teenage girls from boarding a flight on Sunday morning, United Airlines has defended its action. The two teenage girls were prevented by a gate agent on Sunday morning from boarding a United Airlines flight from Denver to Minneapolis as they were wearing leggings that were deemed as improper attire.
comments powered by Disqus
Follow RTT