NovaStar Prices Stock Offering

Published May 27, 2005, 2:00 p.m. EDT

1 Min Read

NovaStar Financial Inc., a Kansas City, Mo.-based residential mortgage lender and investor, has priced a public offering of 1.5 million shares of common stock at $35 per share.JMP Securities LLC is the lead managing underwriter of the offering, and Flagstone Securities LLC is the co-manager. NovaStar said it has granted the underwriters an option to buy up to 225,000 additional shares to cover any overallotments. The company's subsidiary NovaStar Mortgage can be found online at http://www.novastarmortgage.com.

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