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Investment firm ZAIS Financial Corp. ($19.58 0%) announced the pricing of its initial public offering of 5.65 million shares of common stock at a price of $21.25 per share.
The gross proceeds will account for $120.1 million for the company and will be used to purchase its target assets, according to ZAIS.
ZAIS has also granted the underwriters a 30-day option to purchase up to an additionally 847,500 shares of stock to over overallotments, if any.
Shares will begin trading Friday on the New York Stock Exchange under the tick symbol ZFC.
Stifel, Nicolaus & Company, Inc. is acting as lead manager. Additionally, Oppenheimer & Co. and Ladenburg Thalmann & Co. are acting as co-managers.
On Jan. 9, ZAIS filed a registration statement for the proposed initial public offering of its common stock with the U.S. Securities and Exchange Commission.
The company elected to be taxed as a real estate investment trust.
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