Five Oaks prices 4 million share offering
Five Oaks Investment Corp. priced its 4 million follow-up common stock offering at $4.60 per share.
If a 600,000 share underwriters' option is exercised, gross proceeds will be approximately $21.2 million.
The New York-based real estate investment trust plans to use the proceeds to purchase agency residential mortgage-backed securities.
The stock sale was priced 25 cents below Five Oaks' June 15 closing price of $4.85 per share.
JMP Securities is the book-running manager and Ladenburg Thalmann is the lead manager for the offering.