Impac Mortgage Holdings Inc., Newport Beach, Calif., has priced an offering of 5.0 million shares of its common stock at $19.50 per share.The offering produced estimated net proceeds of $92.5 million, Impac said. It was led by UBS Investment Bank; Friedman, Billings, Ramsey & Co.; Sandler O'Neill & Partners LP; and JMP Securities. The company has granted the underwriters a 30-day option to buy up to 750,000 additional shares to cover any overallotments. Impac, a mortgage real estate investment trust, can be found online at http://www.impaccompanies.com.
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