New Century Financial Corp., a real estate investment trust based in Irvine, Calif., has priced a public offering of 4.2 million shares of 9.125% series A cumulative redeemable preferred stock at $25 per share.The sole book-running manager of the offering is Bear, Stearns & Co., and the co-managers are Deutsche Bank; Piper Jaffray; Stifel, Nicolaus & Co.; JMP Securities; and Roth Capital Partners. The underwriters have been granted an option to buy up to 630,000 additional shares of the stock to cover any overallotments. New Century, the parent company of New Century Mortgage Corp. and Home 123 Corp., can be found on the Web at http://www.ncen.com.
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