Newcastle (NCT) Closes 57.5M Offering at $9.35/Share

Newcastle Investment Corp. (NYSE: NCT) announced today that it has completed the sale of 57,500,000 shares of its common stock, including 7,500,000 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares, at a public offering price of $9.35 per share. The gross proceeds from the sale were approximately $537.6 million. All of the shares were offered by the Company and were issued under the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission.

The Company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments. The Company may apply some or all of such proceeds to fund a co-investment in excess mortgage servicing rights on a portfolio with an unpaid principal balance of approximately $215 billion.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Citigroup and UBS Securities LLC served as the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Macquarie Capital (USA) Inc. served as co-managers for the offering.

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