Bookrunners Keefe, RBC, Oppenheimer and JMP to conduct offering
By Devika Patel
Knoxville, Tenn., Feb. 19 - Five Oaks Investment Corp. said it priced a $33.9 million public offering of stock with a $5.09 million greenshoe. The offering was announced on Jan. 23.
The company will sell 3 million common shares at $11.30 per share. The price per share is a 3.75% discount to the Feb. 18 closing share price of $11.74.
Keefe, Bruyette & Woods, RBC Capital Markets, Oppenheimer & Co. and JMP Securities are the joint bookrunning managers.
Settlement is expected on Feb. 24.
Proceeds will be used to purchase mortgage assets.
Five Oaks is a New York-based real estate investment trust focused on investing, financing and managing a portfolio of RMBS and MBS.
| Issuer: | Five Oaks Investment Corp.
|
| Issue: | Common stock
|
| Amount: | $33.9 million
|
| Greenshoe: | $5,085,000
|
| Shares: | 3 million
|
| Price: | $11.30
|
| Warrants: | No
|
| Bookrunners: | Keefe, Bruyette & Woods, RBC Capital Markets, Oppenheimer & Co. and JMP Securities
|
| Announcement date: | Jan. 23
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Stock symbol: | NYSE: OAKS
|
| Stock price: | $11.74 at close Feb. 18
|
| Market capitalization: | $82.61 million
|
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