Newcastle Investment Corp. (NCT) said Wednesday that it has priced a public offering of shares of its common stock.
The size of the offering has been upsized from 30 million shares to 35 million shares, for gross proceeds of $174.0 million.
In connection with the offering, the company has granted the underwriters an option for 30 days to purchase up to an additional 5.25 million shares of common stock.
The offering is expected to close on June 17.
The company plans to 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