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Altisource Residential Corp Announces Public Offering of Common Stock


Monday, 22 Apr 2013 07:28am EDT 

Altisource Residential Corp announced that it intends to offer 10,000,000 shares of its common stock in an underwritten public offering. Residential intends to use the net proceeds from the offering to purchase non-performing and subperforming residential mortgage loans and for general corporate purposes. Residential expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock in connection with the offering. The intended offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. RBC Capital Markets, LLC, JMP Securities LLC and Piper Jaffray & Co. are acting as co-managers. 

Company Quote

20.32
0.11 +0.54%
17 Dec 2014