A public offering launched by Home Loan Servicing Solutions raised $316 million this past week. 

Proceeds are slated to cover the servicer’s planned acquisition of Ocwen mortgage servicing assets. 

Overall, the company sold 14.16 milion shares of stock at a price of $23.

Some of the money will also be used to pay off debts, both unrelated and related to the sale of the shares.

HLSS is a spin-off of Ocwen and a frequent purchaser of its mortgage assets. In press materials, HLSS stresses that it is “internally managed.”