Newcastle sheds 4.6% AH on secondary offering

|About: Newcastle Investment Corp. (NCT)|By:, SA News Editor

Newcastle Investment (NCT) announces a 50M share secondary offering with the underwriters granted a greenshoe option of 7.5M shares. If the option is taken up, the issuance will add about 20% to the float.

A portion of the proceeds will be used to fund the purchase of a portfolio of senior housing properties from Holiday Retirement.

NCT -4.6% AH to $5.16.