NEW YORK, June 16, 2017 /PRNewswire/ -- Five Oaks
Investment Corp. (NYSE: OAKS) (the "Company") today announced that
it has priced an underwritten public offering of 4,000,000 shares
of its Common Stock (the "Common Stock") at $4.60 per share.
In connection with the offering, the Company has granted the
underwriters an option for 30 days to purchase up to an additional
15%, or 600,000 shares of the Common Stock. The Common Stock
is listed on the NYSE under the symbol "OAKS."
The Company intends to use the net proceeds from the offering to
purchase agency RMBS, which are residential mortgage-backed
securities, for which a U.S. Government agency such as Ginnie Mae or a federally chartered corporation
such as Fannie Mae or Freddie Mac, guarantees payments of principal
and interest of the securities and for working capital and other
general purposes.
JMP Securities LLC is acting as book-running manager for the
offering; Ladenburg Thalmann is acting as lead manager for the
offering. The underwriters may offer the shares to purchasers
in one or more transactions directly or through agents, or through
brokers in brokerage transactions on the New York Stock Exchange,
or to dealers in negotiated transactions or in a combination of
such methods of sale, at a fixed price or prices, which may be
changed, or at market prices prevailing at the time of sale, at
prices related to such prevailing market prices or at negotiated
prices. The offering is expected to close subject to
customary closing conditions on June 21,
2017.
A shelf registration statement (File No. 333-215234) relating to
the securities being offered has been filed with and declared
effective by the Securities and Exchange Commission (the
"SEC"). This press release does not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or other jurisdiction in
which such an offer, solicitation or sale would be unlawful before
registration or qualification thereof under the securities laws of
any such state or jurisdiction.
The offering of the Common Stock is being made only by means of
a preliminary prospectus supplement which was filed by the Company
with the SEC, and the accompanying base prospectus, which was filed
as part of the Company's effective shelf registration statement.
Copies of the preliminary prospectus supplement, together with the
accompanying base prospectus, and the final prospectus supplement,
when available, can be obtained at the SEC's website at
http://www.sec.gov, from JMP Securities LLC, 600 Montgomery Street,
10th Floor, San Francisco, CA
94111, Attn: Prospectus Department, telephone: (415) 835-8985 or
from Ladenburg Thalmann & Co. Inc., 570 Lexington Ave., 11th
Floor, New York, NY 10022, by
email at prospectus@ladenburg.com.
About Five Oaks Investment Corp.
Five Oaks Investment Corp. is a real estate investment trust
("REIT") focused with its subsidiaries on investing on a leveraged
basis in mortgage and other real estate-related assets,
particularly mortgage-backed securities ("MBS"), including
residential mortgage-backed securities ("RMBS") and multi-family
mortgage-backed securities ("Multi-Family MBS") and mortgage
servicing rights. The Company's objective remains to deliver
attractive cash flow returns over time to its investors, primarily
through dividends and secondarily through capital appreciation.
Five Oaks Investment Corp. is externally managed and advised by Oak
Circle Capital Partners LLC.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the U.S. securities laws that are subject to risks
and uncertainties. These forward-looking statements include
information about possible or assumed future results of the
Company's business, financial condition, liquidity, results of
operations, plans and objectives. You can identify
forward-looking statements by use of words such as "believe,"
"expect," "anticipate," "estimate," "plan," "continue," "intend,"
"should," "may" or similar expressions or other comparable terms,
or by discussions of strategy, plans or intentions.
Statements regarding the Company's ability to complete this
securities offering and the Company's anticipated use of the net
proceeds of this securities offering, among others, may be
forward-looking. Forward-looking statements are based on the
Company's beliefs, assumptions and expectations of its future
performance, taking into account all information currently
available to the Company. Actual results may differ from
expectations, estimates and projections and, consequently, you
should not rely on these forward-looking statements as predictions
of future events. Forward-looking statements are subject to
substantial risks and uncertainties, many of which are difficult to
predict and are generally beyond the Company's control.
Additional information concerning these and other risk factors are
contained in the Company's most recent filings with the Securities
and Exchange Commission, which are available on the Securities and
Exchange Commission's website at www.sec.gov.
All subsequent written and oral forward-looking statements that
the Company makes, or that are attributable to the Company, are
expressly qualified in their entirety by this cautionary
notice. Any forward-looking statement speaks only as of the
date on which it is made. Except as required by law, the
Company is not obligated to, and does not intend to, update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Five Oaks Investment Corp.
