Pennymac Mortgage Trust (PMT) Announces Proposed 7M Common Share Offering
PennyMac Mortgage Investment Trust (NYSE: PMT) today announced that it is offering 7,000,000 common shares of beneficial interest (“shares”) in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 1,050,000 shares from the Company. All of the shares will be offered by the Company and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission.
The Company intends to use the net proceeds from the offering for general corporate purposes, including funding its investment activity, which may include investments in credit risk transfer securities, mortgage servicing rights, mortgage-backed securities and new products such as home equity lines of credit or prime, non-qualified mortgage loans, as well as the repayment of indebtedness and working capital.
Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as the underwriters for the offering.