Newcastle Announces Upsizing and Pricing of Public Offering of Common Stock
Newcastle Investment Corp. (NYSE: NCT) announced today that it priced its public offering of common stock. The size of the offering has been upsized from 20,000,000 shares to 22,000,000 shares, for gross proceeds of approximately $147.4 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 3,300,000 shares of common stock. The offering is expected to close on July 31, 2012.
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include, but not be limited to, investments in excess mortgage servicing rights, non-agency residential mortgage backed securities, senior living facilities and other investments in real estate securities and/or other real estate related assets.
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