Newcastle Investment Corp. announced today that it plans to make a public offering of 20,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional 3,000,000 shares of common stock.
The company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which may include, but is not limited to, investments in real estate securities, real estate related loans, consumer loans, residential loans, corporate loans, senior living assets, excess mortgage servicing rights and operating real estate.
Newcastle announces public offering to fund MSR, loan acquisitions
Source: Newcastle Investment Corp.