Newcastle Investment Corp. (NYSE: NCT) (“Newcastle” or the “Company”) 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 such proceeds to fund a co-investment in excess mortgage servicing rights on a portfolio with an unpaid principal balance of approximately $215 billion.
Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Citigroup and UBS Securities LLC are the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Macquarie Capital (USA) Inc. are serving as co-managers for the offering. The offering will be made pursuant to the Company’s existing effective 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:
; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, Email:
; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146; 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.