Cherry Hill Mortgage Investment Corp. (CHMI) priced its initial public offering of 6.5 million shares of common stock at $20 per share this week.

The firm’s shares will trade under the New York Stock Exchange ticker symbol, CHMI.

The company plans to use proceeds from the sale, which closes on Oct. 9, to buy mortgage servicing rights and mortgage-backed securities issued or guaranteed by Freddie Mac, Fannie Mae and Ginnie Mae.