Novastar Financial files automatic shelf

New York, May 3 - NovaStar Financial, Inc. filed an S-3ASR automatic shelf registration with the Securities and Exchange Commission.

Covered by the shelf are stock and preferred stock. The preferreds can be issued as convertibles.

NovaStar, a Kansas City, Mo., specialty finance company specializing in residential non-conforming loans, will use proceeds to buy additional mortgages and for general corporate purposes.

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