Newcastle Announces Pricing Of Public Offering Of Common Stock
Newcastle Investment Corp. (NYSE:NCT) (“Newcastle” or the “Company”)
announced today that it priced its public offering of 50,450,952 shares
of its common stock for gross proceeds of approximately $264.
Newcastle Investment Corp. (NYSE:NCT) (“Newcastle” or the “Company”) announced today that it priced its public offering of 50,450,952 shares of its common stock for gross proceeds of approximately $264.9 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 underwriters may offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is expected to close on November 22, 2013, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to fund a portion of the purchase price for a portfolio of senior housing properties that Newcastle has agreed to acquire from certain affiliates of Holiday Retirement. The Company may also use the net proceeds from this offering for general corporate purposes, which could include acquisitions of other senior housing properties, CDO debt, other real estate securities and loans, operating businesses or other assets. Credit Suisse Securities (USA) LLC and UBS Securities LLC are the joint book-running managers for the offering. The offering is being made pursuant to the Company’s existing effective shelf registration statement, previously filed with the Securities and Exchange Commission (the “SEC”). Certain of the Company’s officers and directors will purchase an aggregate of 450,952 shares of common stock directly from the Company in the offering. The offering is being 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: firstname.lastname@example.org; 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.