In the last month, Nationstar Mortgage (NSM) reached two separate agreements with Ocwen Financial (OCN) to purchase nearly $35 billion worth of mortgage servicing rights.

Nationstar is planning to fund those purchases by executing a public offering of common stock, the company announced Tuesday.

According to a release from Nationstar, the company intends to offer and sell 17,500,000 shares of its common stock in an underwritten public offering.

Citigroup (C), Barclays (BCS) and J.P. Morgan (JPM) are acting as the underwriters for the offering. Under the terms of the offering, Nationstar intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of its common stock.

The underwriters may subsequently offer the shares for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, Nationstar said.

According to the company, Nationstar intends to use the net proceeds from the sale for “general corporate purposes.”

Included among those are the recent MSR acquisitions from Ocwen. Earlier Tuesday, Ocwen announced it was selling a $25 billion MSR portfolio to Nationstar. And just over a month ago, Ocwen agreed to sell another $9.8 billion portfolio of agency servicing to Nationstar.

“Nationstar intends to use the net proceeds from this offering for general corporate purposes, which may include future acquisitions, transfers of servicing portfolios, funding of advances and repayment of obligations, including corporate indebtedness,” Nationstar said.

“These acquisitions are expected to include the acquisition of $60 billion unpaid principal balance of mortgage servicing rights in process or under letters of intent as of the date of the prospectus supplement, the consummation of which is subject to definitive documentation, regulatory approvals, and/or other customary conditions.”

At the close of Tuesday's trading, Nationstar’s stock sat at $31.14, up $1.60 (5.42%) for the day. For the year, Nationstar is up 8.84%.