Newcastle Investment Corp. (NCT) said Tuesday that it plans to make a public offering of 30 million shares of its common stock.
In connection with the offering, the company plans to grant the underwriters an option for 30 days to purchase up to an additional 4.5 million shares of common stock.
The company said it plans use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which the company expects to primarily include acquisitions of senior housing properties, but which could also include acquisitions of CDO debt, other real estate securities and loans, operating businesses or other assets.
For comments and feedback: editorial@rttnews.com