Alesco Financial Prices Secondary

Updated from Nov. 21

Alesco Financial (AFN Quote - Cramer on AFN - Stock Picks) priced a secondary offering Tuesday as underwriters sold 26.4 million shares at $9 apiece.

Underwriters, led by Merrill Lynch and Bear Stearns, were granted an over-allotment option to sell an additional 3.96 million shares.

Shares of the real estate investment trust were recently up 5.5% at $9.51.