FIVE OAKS INVESTMENT CORP. (NYSE:OAKS) Files An 8-K Other EventsItem 8.01
On June 21, 2017, Five Oaks Investment Corp. (the “Company”) completed the previously-announced underwritten public offering of common stock at a price of $4.60 per share, and issued 4,600,000 shares (including 600,000 shares to a full exercise of the underwriters’ over-allotment option) for net proceeds of approximately $19.8 million, after deducting the underwriting discount and the estimated fees and expenses payable by the Company.
The Company, subject to prevailing market conditions at the time of purchase, intends to invest the net proceeds from this offering to purchase Agency RMBS, and for working capital and other general purposes.
About FIVE OAKS INVESTMENT CORP. (NYSE:OAKS)
Five Oaks Investment Corp. is a real estate investment trust. The Company is focused on investing on a leveraged basis in mortgage and other real estate-related assets, particularly residential mortgage loans and mortgage-backed securities (MBS). The Company invests in various assets, such as Agency residential MBS (RMBS); securitizations backed by multi-family mortgage loans, or Multi-Family MBS; residential mortgage loans and other mortgage-related investments, including mortgage servicing rights (MSRs), and Non-Agency RMBS. The Company finances its investments in Agency RMBS, Multi-Family MBS, residential mortgage loans and Non-Agency RMBS primarily through short-term borrowings structured as repurchase agreements. The Company is externally managed and advised by Oak Circle Capital Partners LLC.
