Altisource Residential Prices 15M Share Offering at $21.00/Share
Altisource Residential Corporation (NYSE: RESI) announced today the pricing of an underwritten public offering of 15,000,000 shares of its common stock at $21.00 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 2,187,000 shares of common stock in connection with the offering. The offering is expected to close on October 1, 2013, subject to customary closing conditions.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. JMP Securities LLC, Keefe, Bruyette & Woods, Inc. and Piper Jaffray & Co. are acting as co-managers.
The offering is being made only by means of a prospectus. A copy of the prospectus for the offering may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at 1-800-831-9146; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by