New Residential Announces Pricing of Public Offering of Common Stock
January 17 2018 - 6:55AM
Business Wire
New Residential Investment Corp. (NYSE: NRZ; “New Residential”
or the “Company”) announced today that it priced its public
offering of 25,000,000 shares of its common stock for gross
proceeds of approximately $427.5 million. The underwriters may
offer the shares from time to time 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 relating to prevailing
market prices or at negotiated prices. The offering is expected to
close on January 19, 2018, subject to customary closing conditions.
In connection with the offering, the Company has granted the
underwriters an option for a period of 30 days to purchase up to an
additional 3,750,000 shares of common stock.
The Company intends to use the net proceeds from this offering
for investments and general corporate purposes.
Credit Suisse Securities (USA) LLC, J.P. Morgan, BofA Merrill
Lynch, BTIG, LLC, B. Riley FBR, Inc. and UBS Securities LLC are
acting as joint book-running managers for the offering.
The offering is being made pursuant to the Company’s effective
shelf registration statement filed with the Securities and Exchange
Commission (the “SEC”). The offering is being made only by means of
a prospectus and a related prospectus supplement. Prospective
investors should read the prospectus supplement and the prospectus
in that registration statement and other documents the Company has
filed or will file with the SEC for more complete information about
the Company and the offering. You may obtain these documents for
free by visiting EDGAR on the SEC’s website at www.sec.gov.
Alternatively, copies of the prospectus and prospectus supplement
may be obtained from
Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department,
One Madison Avenue New York, NY 10010,
email: newyork.prospectus@credit-suisse.com, telephone: (800)
221-1037; J.P. Morgan, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, telephone: (866) 803-9204; BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC
28255-0001, Attention: Prospectus Department, email:
dg.prospectus_requests@baml.com; BTIG, LLC, 825 Third Avenue, 6th
Floor, New York, NY 10022, email: equitycapitalmarkets@btig.com,
telephone: (212) 593-7555; B. Riley FBR, Inc., 11100 Santa Monica
Blvd., Suite 800, Los Angeles, CA 90025, Attention: Prospectus
Department, telephone: (310) 689-2220; or UBS Securities LLC, 1285
Avenue of the Americas, New York, NY 10019, Attention: Prospectus
Department, telephone: (888) 827-7275.
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 NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and
actively managing, investments related to residential real estate.
The Company primarily targets investments in mortgage servicing
related assets and other related opportunistic investments. New
Residential is organized and 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 the intended
use of proceeds of the offering. 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 and the
prospectus related to the offering and in the Company’s Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as
the sections entitled “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” incorporated by
reference in the prospectus supplement related to the offering from
the Company’s Annual Report on Form 10-K and 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.
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