Newcastle Prices Public Offering of 50M Shares at $9.35/Share
Newcastle Investment Corp. (NYSE: NCT) announced today that it priced its public offering of common stock at a
public offering price of $9.35 per share. The size of the offering has
been upsized from 40,000,000 shares to 50,000,000 shares, for gross
proceeds of $467.5 million. In connection with the offering, the Company
has granted the underwriters an option for 30 days to purchase up to an
additional 7,500,000 shares of common stock. The offering is expected to
close on January 11, 2013, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering for
general corporate purposes, including to make a variety of investments.
The Company may apply some or all of