RED BANK, N.J., Feb. 8, 2013 /PRNewswire/ -- ZAIS Financial Corp. (NYSE: ZFC) ("ZAIS Financial" or the "Company") announced today the pricing of its initial public offering of 5,650,000 shares of common stock at a price to the public of $21.25 per share, for gross proceeds to the Company of $120.1 million. ZAIS Financial has also granted the underwriters a 30-day option to purchase up to an additional 847,500 shares of common stock to cover overallotments, if any.
Shares of ZAIS Financial's common stock are expected to begin trading today on the New York Stock Exchange under the ticker symbol "ZFC." The Company expects to close the initial public offering on or about February 13, 2013, subject to the satisfaction of customary closing conditions. The Company plans to use the net proceeds from the initial public offering, together with additional borrowings, to purchase its target assets.
Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Barclays Capital Inc. and Credit Suisse Securities ( USA) LLC are the joint book runners for the offering. Stifel, Nicolaus & Company, Incorporated is acting as lead manager, and Oppenheimer & Co. and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., are acting as co-managers.A registration statement relating to the offered shares of common stock has been filed with and declared effective by the Securities and Exchange Commission ("SEC"). The initial public offering is being made only by means of a prospectus. Copies of the prospectus for the proposed offering may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Telephone: (800) 503-4611, or by emailing email@example.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, or by emailing firstname.lastname@example.org; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing email@example.com; or Credit Suisse Securities ( USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, Telephone: (800) 221-1037, or by emailing firstname.lastname@example.org. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company's shares of common stock in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State or jurisdiction.