Updated from Nov. 21

Alesco Financial ( AFN) 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.

As originally published, this story contained an error. Please see Corrections and Clarifications.

More from Real Estate

How Much Are Closing Costs on a New Home Purchase?

How Much Are Closing Costs on a New Home Purchase?

How to Calculate Your Net Worth and Pin Down Your Financial Health

How to Calculate Your Net Worth and Pin Down Your Financial Health

Best Real Estate Markets for Homeowners in the U.S.

Best Real Estate Markets for Homeowners in the U.S.

More and More Millennials Are Living at Home With Mom and Dad

More and More Millennials Are Living at Home With Mom and Dad

It's Harder for Recent Grads to Move Out Now Than It Was 10 Years Ago

It's Harder for Recent Grads to Move Out Now Than It Was 10 Years Ago