Luminent Mortgage Capital Inc., a San Francisco-based real estate investment trust, has announced the pricing of an initial public offering of 11.4 million shares of common stock at $13 per share.Luminent was formed in April to invest primarily in U.S. agency and other highly rated mortgage-backed securities. The underwriters have been granted an option to buy up to 1.71 million additional shares to cover any overallotments. The managing underwriter of the offering is Friedman, Billings, Ramsey & Co. The REIT can be found online at http://www.luminentcapital.com.
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