Feb 8 Mortgage REIT Cerberus Mortgage Capital
Inc filed with regulators to raise as much as $150 million in an
initial public offering of common stock.
The real estate investment trust will use proceeds from the
offering to invest in both agency and non-agency residential
mortgage-backed securities, it said in a preliminary filing with
the U.S. Securities and Exchange Commission on Friday.
The company, which is controlled by an affiliate of private
equity firm Cerberus Capital Management LP, did not reveal how
many shares it would offer in the IPO or their expected price.
New York-based Cerberus Mortgage Capital said it plans to
list its stock on the New York Stock Exchange but did not reveal
its planned ticker symbol.
Zais Financial Corp, another mortgage REIT that went
public on Friday, saw its shares fall 6 percent on debut after
raising $120 million from its IPO.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.