Altisource Residential Prices 14.2M Share Offering at $34.00/Share
Altisource Residential (NYSE: RESI) announced today the pricing of an underwritten public offering of 14,200,000 shares of its common stock at $34.00 per share. Residential intends to use the net proceeds from the offering to purchase non-performing and sub-performing residential mortgage loans and for general corporate purposes. Residential has granted the underwriters a 30-day option to purchase up to an additional 2,130,000 shares of common stock in connection with the offering. The offering is expected to close on January 22, 2014, subject to customary closing conditions.