Newcastle Investment Corp. (NCT) said it priced its public offering of 20 million shares of its common stock at a public offering price of $6.71 per share for gross proceeds of about $134.2 million. In connection with the offering, the company has granted the underwriters an option for 30 days to purchase up to an additional 3 million shares of common stock.
The offering is expected to close on May 21, 2012.
The company plans to use the net proceeds from this offering for general corporate purposes, which may include, but not be limited to, investments in excess mortgage servicing rights, the repurchase of indebtedness issued by its collateralized debt obligations, as well as investments in real estate securities and/or other real estate related assets, including senior living facilities.
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