FBR Closes Luminent Stock Offering

Published June 12, 2003, 2:00 p.m. EDT

1 Min Read

Friedman, Billings, Ramsey Group Inc., Arlington, Va., has announced that its subsidiary Friedman, Billings, Ramsey & Co. Inc. has closed a $157 million private offering for Luminent Mortgage Capital Inc., a San Francisco-based real estate investment trust.FBR said the transaction involved an offering of 10.5 million common shares at a price of $15 per share, which is expected to yield net proceeds of $146.4 million to Luminent. FBR was the sole book-runner and lead manager for the 144A offering. It can be found online at http://www.fbr.com.

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