Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 11:15 PM
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Slide #432. Five Oaks Investment Corp. — Preferred Stock Offering
Five Oaks Investment Corp. (OAKS)
8.75% Series A Cumulative Redeemable Preferred Stock (OAKS.PRA)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Five Oaks Investment Corp. (NYSE: OAKS) today announced that the Company has commenced an underwritten public offering of its Series A Cumulative Redeemable Preferred Stock. In addition, the Company will grant the underwriters a 30-day option to purchase up to an additional 15% of the Series A Preferred Stock. The Company has applied to list the Series A Cumulative Redeemable Preferred Stock on the New York Stock Exchange under the symbol "OAKS-PrA". - updated 12/18 - Five Oaks Investment Corp. (NYSE: OAKS) (the "Company") today announced that it has priced a public offering of 800,000 shares of its 8.75% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") liquidation preference of $25.00 per share for estimated net proceeds of $18.3 million. The offering is subject to customary closing conditions and is expected to close on December 23, 2013.
Five Oaks Investment is a real estate investment trust. Co. is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), multi-family mortgage backed securities (Multi-Family MBS), mortgage servicing rights and other mortgage-related investments. Co. invests in the following assets: Agency RMBS, which are residential mortgage-backed securities, for which a U.S. Government agency or a federally chartered corporation guarantees payments of principal and interest on the securities; Multi-Family MBS; Non-Agency RMBS, which are RMBS that are not issued or guaranteed by a U.S. Government-sponsored entity; and other mortgage-related investments.
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