Five Oaks Investment Launches Public Offering Of 3 Mln Shares

(RTTNews) - Five Oaks Investment Corp. (OAKS) said Tuesday that it has commenced an underwritten public offering of 3 million shares of its common stock.  

In addition, the company will grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock.

The company said it plans to use the net proceeds from the offering to purchase legacy non-Agency residential mortgage-backed securities, or RMBS, non-Agency mortgage assets (including new issue non-Agency RMBS and mortgage loans, including prime jumbo residential whole loans), multi-family MBS and, to a lesser extent, Agency RMBS.