Redwood Trust Inc., a financial institution based in Mill Valley, Calif., that invests in real estate loans and securities, has priced a public offering of 1.0 million shares of common stock at $58.60 per share.The lead manager of the offering was JMP Securities LLC. The underwriters have been granted a 30-day option to buy up to 150,000 additional shares to cover any overallotments. The net proceeds are expected to be $56 million to $65 million, depending on whether the option is exercised, Redwood said. The company can be found on the Web at http://www.redwoodtrust.com.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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