New Residential Investment (NRZ) Announces 45M Share Public Offering of Common Stock
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New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced today the commencement of a public offering of 45,000,000 shares of its common stock, subject to market conditions. In connection with the offering, the Company expects to grant the underwriters an option for a period of 30 days to purchase up to an additional 6,750,000 shares of common stock.
The Company intends to use the net proceeds from this offering to finance its previously announced acquisition of Caliber Home Loans, Inc. (“Caliber”) and to pay related fees and expenses, and any remaining proceeds for investments and general corporate purposes. In the event that the Caliber acquisition does not occur, the Company intends to use the net proceeds from this offering for general corporate purposes.
Citigroup Global Markets Inc. is acting as the book-running manager for the offering.
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