(RTTNews) -  Walter Investment Management Corp. (WAC: News ) revealed the pricing of a public offering of 5 million shares of common stock at a public offering price per share of $14.25. Walter Investment Management Corp. has granted the underwriters a 30-day option to purchase up to an additional 750 thousand shares of common stock to cover over-allotments, if any.

Walter Investment Management Corp. estimates that it will receive net proceeds from the offering of approximately $66.8 million, or approximately $76.9 million if the underwriters choose to exercise the over-allotment option in full. The offering is expected to close on October 21, 2009.
The company expects to use net proceeds from the offering to acquire residential loans and for other general corporate purposes.

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by RTT Staff Writer

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