Maryland-based investment firm ZAIS Financial Corp. filed a registration statement relating to the proposed initial public offering of its common stock the U.S. Securities and Exchange Commission.
The company has not announced the amount of shares of common stock offered or the public offering price per share. ZAIS intends to list its common stock on the New York Stock Exchange under the symbol ZFC.
As a result of the IPO, the company has elected to be taxed as a real estate investment trust for federal income purposes, commencing with the taxable year ended Dec. 31, 2011.
"To assist us in qualifying as a REIT, among other purposes, no person may own, with certain exceptions, more than 9.8% in value or in number, whichever is more restrictive, of the outstanding shares of our common or capital stock," the filing said.
ZAIS has not identified any specific investments to be made with the net proceeds of the offering.
The company will also grant underwriters the right to purchase an additional unspecificed amount of common stock from the IPO price within 30 days after the date of the offering.