Ocwen Financial Corp: Key Developments
Ocwen Financial Corp. Announces Completion of Common Stock Offering
August 18, 2009 |
| Ocwen Financial Corp. announced the completion of its public offering of 32,200,000 shares of common stock, which includes 4,200,000 shares of common stock purchased by the underwriters pursuant to the full exercise of the over allotment option. The net proceeds to Ocwen from the common stock offering are approximately $275.3 million after deducting underwriting discounts but before estimated offering expenses. Ocwen intends to use the net proceeds for general corporate purposes, including without limitation, acquisitions and working capital. J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC acted as joint book running managers for the common stock offering. |
Ocwen Financial Corp. Announces Exercise in Full by Underwriters of Over-Allotment Option On Common Stock Offering
August 14, 2009 |
| Ocwen Financial Corp. announced that the underwriters of its previously announced common stock offering exercised in full their over-allotment option on August 13, 2009. The exercise of the over-allotment option results in the issuance of an additional 4,200,000 shares of common stock. With the exercise of the over-allotment option, Ocwen will issue, in the aggregate, 32,200,000 shares of common stock. The closing for both the common stock offering and the exercise of the over-allotment option is scheduled for August 18, 2009. J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the common stock offering. |
Ocwen Financial Corp. Announces Pricing Of Common Stock Offering
August 13, 2009 |
| Ocwen Financial Corp. announced that it priced a public offering of 28,000,000 shares of common stock at a price per share of $9.00. In addition, Ocwen has granted the underwriters a 30-day option to purchase up to an additional 4,200,000 shares of common stock to cover over-allotments, at the same price per share and on the same terms and conditions. The net proceeds to Ocwen from the offering will be approximately $239.4 million after deducting underwriting discounts and before estimated offering expenses, exclusive of any proceeds attributable to any possible exercise of the underwriters' over-allotment option. Ocwen intends to use the proceeds for general corporate purposes, including, without limitation, acquisitions and working capital. J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the common stock offering. |
Ocwen Financial Corp. Proposes Offering Of Common Stock
August 4, 2009 |
| Ocwen Financial Corp. announced a proposed public offering of common stock. Ocwen intends to offer, $250 million of its common stock. In connection with this offering, Ocwen intends to grant the underwriters a 30-day option to purchase an additional 15% of the number of shares of its common stock sold in the offering. J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the common stock offering. |
LaCrosse Global Fund Services and Ocwen Financial Corp. Announce Partnership
June 16, 2009 |
| LaCrosse Global Fund Services and Ocwen Financial Corp. announced the introduction of a specialized suite of services available to investment funds investing in US-based loans, mortgages and distressed assets. Ocwen will provide seamless integration of its mortgage servicing and valuation offerings to customers of LaCrosseMortgage+(tm), a specialized fund administration and middle-office support package for investment funds that trade in whole loans. |
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