Published on 3/30/2009 in the Prospect News PIPE Daily.
New Issue: Ocwen to raise $60.19 million via private placement of stock
By Devika Patel
Knoxville, Tenn., March 30 - Ocwen Financial Corp. said it will conduct a private placement of stock for $60.19 million.
The company will sell 5,471,500 common shares at $11.00 each.
Based in West Palm Beach, Fla., Ocwen is an asset manager and business process outsourcing provider to the financial services industry that specializes in loan servicing, mortgage fulfillment and receivables management services.
| Issuer: | Ocwen Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $60,186,500
|
| Shares: | 5,471,500
|
| Price: | $11.00
|
| Warrants: | No
|
| Pricing date: | March 30
|
| Stock symbol: | NYSE: OCN
|
| Stock price: | $11.61 at close March 27
|
| Market capitalization: | $725 million
|
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