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Newcastle Investment Completes $241 Mln Stock Offering

Newcastle Investment Corp. (NCT) said Friday that it has completed the sale of 23 million shares of its common stock, including 3 million shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares. The gross proceeds from the sale were about $241.0 million.

The company plans to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which may include, but is not limited to, investments in real estate securities, real estate related loans, consumer loans, residential loans, corporate loans, senior living assets, excess mortgage servicing rights and operating real estate.

by RTT Staff Writer

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