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Altisource Residential Corp Announces Pricing Of Public Offering Of Common Stock


Wednesday, 25 Sep 2013 06:36pm EDT 

Altisource Residential Corp announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock at $21.00 per share. Residential intends to use the net proceeds from the offering to purchase non-performing and sub-performing residential mortgage loans and for general corporate purposes. Residential has granted the underwriters a 30-day option to purchase up to an additional 2,187,000 shares of common stock in connection with the offering. The offering is expected to close on October 1, 2013, subject to customary closing conditions. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. JMP Securities LLC, Keefe, Bruyette & Woods, Inc. and Piper Jaffray & Co. are acting as co-managers. 

Company Quote

22.14
1.28 +6.14%
1 Apr 2015