Five Oaks -3.3% on secondary offering

Five Oaks (OAKS) files to sell 3.5M shares in a secondary offering, with underwriters granted a greenshoe option of 525K shares.

At the regular session's close, the stock was selling for $11.89, a 7.4% discount to March 31 book value.

Shares are off 3.3% in after-hours action to $11.50.

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