Newcastle Announces Closing Of Public Offering Of Common Stock Including Exercise Of Option To Purchase Additional Shares

Newcastle Investment Corp. (NYSE:NCT) (“Newcastle” or the “Company”) announced today that it has completed the sale of 57,950,952 shares of its common stock, including 7,500,000 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares. The gross proceeds from the sale were approximately $304.2 million. All of the shares were offered by the Company and were issued under the Company’s existing effective shelf registration statement that was previously filed with the Securities and Exchange Commission.

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 acted as joint book-running managers for the offering. Certain of the Company’s officers and directors purchased an aggregate of 450,952 shares of common stock directly from the Company in the offering.

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.

ABOUT NEWCASTLE

Newcastle focuses on investing in, and actively managing, real estate related assets and primarily invests in: (1) Senior Housing Assets and (2) Real Estate & Other Debt, in addition to other opportunistic investments. The Company conducts its operations to qualify as a real estate investment trust for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm.

If you liked this article you might like

3 Companies With Significant Insider Buying

Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: TLI, NCT, HYI

Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: TPZ, NCT, CONE

Tomorrow's Ex-Dividends To Watch: NCT, WWW, COTY

3 Stocks With Upcoming Ex-Dividend Dates: NCT, RCII, TMK