Home Loan Servicing Solutions Sells 25.3M Shares at $19/Share
Home Loan Servicing Solutions, Ltd. (Nasdaq: HLSS) announced today the closing of its previously announced underwritten public offering of ordinary shares. The Company sold a total of 25,300,000 newly issued ordinary shares at a price to the public of $19.00 per share. The Company received net proceeds of approximately $462 million from the offering after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to purchase the right to receive servicing and other related fees, associated servicing advances and other related assets from Ocwen Loan Servicing, LLC, and to the extent there are any remaining proceeds, for general corporate purposes.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.