Hanover Capital Mortgage Holdings, Edison, N.J., has priced a public offering of 3.0 million shares of its common stock at $10 per share.The company said it plans to use the net proceeds of approximately $27.4 million to buy subordinated mortgage-backed securities and other mortgage-related assets. The underwriters have been granted a 30-day option to buy up to 450,000 additional shares of the stock to cover any overallotments. JMP Securities is the lead manager of the offering, and Stifel, Nicolaus & Co. is the co-manager. Hanover Capital, a mortgage real estate investment trust, can be found online at http://www.hanovercapitalholdings.com.
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