Newcastle Announces Pricing of Public Offering of Common Stock
August 13 2014 - 9:31AM
Business Wire
Newcastle Investment Corp. (NYSE:NCT) (“Newcastle” or the
“Company”) announced today that it priced its public offering of
40,000,000 shares of its common stock for gross proceeds of
approximately $176 million. In connection with the offering, the
Company has granted the underwriters an option for 30 days to
purchase up to an additional 5,925,000 shares of common stock
(subject to adjustment for the Company’s announced 3-for-1 reverse
stock split). The underwriters may offer the shares from time to
time for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices. The offering is expected to close on August 18,
2014, subject to customary closing conditions.
The Company intends to use the net proceeds from this offering
primarily to acquire senior housing properties.
Citigroup, BofA Merrill Lynch and Credit Suisse Securities (USA)
LLC are the joint book-running managers for the offering. The
offering is being made pursuant to the Company’s existing effective
shelf registration statement, previously filed with the Securities
and Exchange Commission (the “SEC”). Certain of the Company’s
officers and directors will purchase an aggregate of 500,000 shares
of common stock directly from the Company in the offering. The
offering is being made only by means of a prospectus and a related
prospectus supplement. Copies of the prospectus and prospectus
supplement may be obtained from: Citigroup, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, Telephone: (800) 831-9146, Email:
batprospectusdept@citi.com; BofA Merrill Lynch, 222 Broadway, New
York, New York 10038, Attention: Prospectus Department, or by
e-mail at dg.prospectus_requests@baml.com; or Credit Suisse
Securities (USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, New York 10010, Telephone: (800) 221-1037, Email:
newyork.prospectus@credit-suisse.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
ABOUT NEWCASTLE
Newcastle focuses on investing in, and actively managing, real
estate related assets and primarily invests in: (1) Senior Housing
Assets (2) Real Estate Debt and (3) Golf & Other Investments.
The Company conducts its operations to qualify as a real estate
investment trust for federal income tax purposes. The Company is
managed by an affiliate of Fortress Investment Group LLC, a global
investment management firm.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements relating to the offering and intended use of
proceeds. These statements are based on management’s current
expectations and beliefs and are subject to a number of trends and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements, many of
which are beyond our control. The Company can give no assurance
that its expectations will be attained.
Accordingly, you should not place undue reliance on any
forward-looking statements contained in this press release. For a
discussion of some of the risks and important factors that could
affect such forward-looking statements, see the sections entitled
“Risk Factors” in the prospectus supplement related to the offering
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operation” incorporated by reference in the
prospectus supplement related to the offering from the Company’s
Annual Report on Form 10-K or Quarterly Reports on Form 10-Q. In
addition, new risks and uncertainties emerge from time to time, and
it is not possible for the Company to predict or assess the impact
of every factor that may cause its actual results to differ from
those contained in any forward-looking statements. Such
forward-looking statements speak only as of the date of this press
release. The Company expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s
expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
Newcastle Investment Corp.Investor Relations212-479-3195
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