Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 20, 12:50 AM
This Slide: #447 of 620 |
Slide #447. Five Oaks Investment Corp. — Preferred Stock Offering
Company:
Five Oaks Investment Corp. (OAKS)
Date announced:
5/21/2014
Security type:
8.75% Series A Cumulative Redeemable Preferred Stock (OAKS.PRA)
Shares Offered:
600,000
Date of Pricing:
5/21/2014
Price Per Share:
$25
Preferred Stock Offering Details:
Five Oaks Investment Corp. (NYSE: OAKS) (the "Company") today announced that the Company has commenced an underwritten public offering of additional shares of its 8.75% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share) (the "Series A Preferred Stock"). The offering is a re-opening of the Company's original issuance of Series A Preferred Stock, which occurred in December 2013 and the subsequent overallotment option exercise in January 2014. 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 Series A Preferred Stock is listed on the NYSE under the symbol "OAKS-PrA." The Company has applied to list the additional shares under the same symbol. - updated 5/22 - Five Oaks Investment Corp. (NYSE: OAKS) (the "Company") today announced that it has priced an underwritten public offering of 600,000 additional shares of its 8.75% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share) (the "Series A Preferred Stock") for estimated net proceeds of $14,000,000. The offering is a re-opening of the Company's original issuance of Series A Preferred Stock, which occurred in December 2013 and the subsequent overallotment option exercise in January 2014. The offering is subject to customary closing conditions and is expected to close on May 27, 2014.
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.
Preferred: OAKS.PRA
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