Home Loan Servicing Solutions (HLSS)

[Enterprising Investor]

New Residential Announces Public Offering of Common Stock (4/06/15)

NEW YORK--(BUSINESS WIRE)--New Residential Investment Corp. (NYSE:NRZ) (“New Residential” or the “Company”) announced today the commencement of a public offering of 40,000,000 shares of its common stock, subject to market conditions. Of the total shares being offered, 28,286,980 shares are being offered by Home Loan Servicing Solutions, Ltd. (the “Selling Stockholder”) and the remainder (11,713,020 shares) is being offered by the Company. As previously disclosed, the shares being offered by the Selling Stockholder were received as a portion of the consideration paid by the Company in connection with its acquisition of substantially all of the assets of the Selling Stockholder. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholder.

In connection with the offering, the Company intends to grant the underwriter an option for 30 days to purchase up to an additional 6,000,000 shares of common stock from the Company.

The Company intends to use its portion of the net proceeds from this offering for general corporate purposes, including to make a variety of investments, which may include, but is not limited to, investments in Excess MSRs, servicer advances, real estate securities and real estate related loans, or to repay indebtedness or other obligations.

Citigroup is the sole book-running manager for the offering. The offering will be made pursuant to the Company’s existing effective shelf registration statement, previously filed with the Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus and a related prospectus supplement. Copies of the prospectus and prospectus supplement may be obtained from: Citigroup, Attention: c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York, 11717, or by phone at [phone].

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ABOUT NEW RESIDENTIAL

New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in mortgage servicing related assets and other related opportunistic investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC (NYSE: FIG), a global investment management firm.

http://www.businesswire.com/news/home/20150406005899/en/Residential-Announces-Public-Offering-Common-Stock#.VSL6FoktGUk