NovaStar Prices Stock Offering

November 10, 2004, 3:00 p.m. EST 1 Min Read

NovaStar Financial Inc., a real estate investment trust based in Kansas City, Mo., has priced a public offering of 1.5 million shares of newly issued common stock at $42.50 per share.The underwriters have been granted an option to buy up to 225,000 additional shares to cover any overallotments, NovaStar said. JMP Securities LLC is the lead manager of the offering, and Flagstone Securities LLC is the co-manager. NovaStar, a lender and investor in residential mortgages, can be found online at http://www.novastarmortgage.com.

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