Newcastle (NCT) Announces 40M Common Offering

Newcastle Investment Corp. (NYSE: NCT) plans to make a public offering of 40,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional 6,000,000 shares of common stock.

The Company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments. The Company may apply some or all of such proceeds to fund a co-investment in excess mortgage servicing rights on a portfolio with an unpaid principal balance of approximately $215 billion.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Citigroup and UBS Securities LLC are the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. and Macquarie Capital (USA) Inc. are serving as co-manager for the offering.

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