Newcastle Investment Corp. ($5.42 0%) completed the sale of 23 million shares of its common stock, according to the company.

The gross proceeds from the sale totaled $241 million. The company intends to use the net proceeds from the offering for general corporate purposes, including investments in real estate securities, residential loans and excess mortgage servicing rights.

Credit Suisse Securities ($29.18 0%) and Bank of America Merrill Lynch ($13.21 0%) served as joint book-running managers for the offering.