Impac Prices Stock Offering

Impac Mortgage Holdings Inc., Newport Beach, Calif., has priced an offering of 2 million shares of its common stock at $17.75 per share, producing estimated net proceeds of $34 million.The proceeds are expected to be used to expand Impac's long-term investment operations and for general corporate purposes, the company said. The lead manager of the offering was JMP Securities LLC, and the co-manager was Sandler O'Neill & Partners LP. The company has granted the underwriters a 30-day option to buy up to 300,000 additional shares to cover any overallotments. Impac, a mortgage real estate investment trust, can be found online at http://www.impaccompanies.com.