Home Loan Servicing Solutions Announces Pricing of Public Equity Offering
June 20 2013 - 5:46PM
Home Loan Servicing Solutions, Ltd. (Nasdaq:HLSS) announced today
that it has priced a public offering of 13,000,000 of its ordinary
shares at a public offering price of $23.00 per share for total
gross proceeds of approximately $299,000,000. HLSS intends to use
the net proceeds of the offering to acquire mortgage servicing
assets from Ocwen Loan Servicing, LLC and to pay fees, costs and
expenses in connection with the acquisition of these assets. The
offering is subject to customary closing conditions and is expected
to close on June 26, 2013.
Wells Fargo Securities, LLC, Barclays Capital Inc., BofA Merrill
Lynch and J.P. Morgan Securities LLC are acting as the joint
book-running managers for the offering.
The shares are being offered pursuant to a prospectus supplement
and an accompanying prospectus filed as part of an effective shelf
registration statement filed with the Securities and Exchange
Commission on Form S-3. Copies of the prospectus supplement and the
accompanying prospectus relating to this offering may be obtained
from Wells Fargo Securities, LLC, via telephone: (800) 326-5897,
email: cmclientsupport@wellsfargo.com, or standard mail at Wells
Fargo Securities, 375 Park Avenue, 4th Floor, New York, NY 10152,
Attn: Equity Syndicate; from Barclays Capital Inc., via telephone:
(888) 603-5847, email: Barclaysprospectus@broadridge.com, or
standard mail at Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; from BofA
Merrill Lynch, via email to dg.prospectus_requests@baml.com or
standard mail at BofA Merrill Lynch, Attn: Prospectus Department,
222 Broadway, New York, NY 10038; or from J.P. Morgan Securities
LLC, via telephone: (866) 803-9204 or standard mail at J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are not guarantees of future
performance, and involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially.
Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements
include, but are not limited to, the following: general economic
and market conditions, prevailing interest rates, governmental
regulations and policies, availability of adequate and timely
sources of liquidity, our ability to maintain our PFIC status, real
estate market conditions and other risks detailed in HLSS' reports
and filings with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date they are made
and should not be relied upon. HLSS undertakes no obligation to
update or revise the forward-looking statements.
CONTACT: James E. Lauter
Senior Vice President & Chief Financial Officer
T: (561) 682-7561
E: James.Lauter@hlss.com
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