Newcastle Investment Corp. (NYSE: NCT) (the “Company”) announced today that it priced its public offering of common stock. The size of the offering has been upsized from 20,000,000 shares to 22,000,000 shares, for gross proceeds of approximately $147.4 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 3,300,000 shares of common stock. The offering is expected to close on July 31, 2012.
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include, but not be limited to, investments in excess mortgage servicing rights, non-agency residential mortgage backed securities, senior living facilities and other investments in real estate securities and/or other real estate related assets.
Credit Suisse Securities (USA) LLC, Citigroup and UBS Securities LLC are the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. is serving as co-manager for the offering. The offering will be made pursuant to the Company’s existing automatic shelf registration statement, previously filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus and a related prospectus supplement. Copies of the prospectus and prospectus supplement may be obtained from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: (800) 221-1037, Email:
; Citigroup, Brooklyn Army Terminal, 140 58th Street, Brooklyn, NY 11220, Telephone: (800) 831-9146, Email:
; or UBS Securities LLC, 299 Park Avenue, New York, New York 10171, Attention: Prospectus Department, Telephone: (888) 827-7275.
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.