So I found these news articles and I think that is why the vol spiked for those days!
3/ 29
Newcastle Investment Corp announced that it priced its public offering of 16,500,000 shares of its common stock at a public offering price of $6.22 per share for gross proceeds of approximately $102.6 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 2,475,000 shares of common stock. The offering is expected to close on April 3, 2012. The Company intends to use the net proceeds from this offering to make investments in excess mortgage servicing rights and for other general corporate purposes, which may include, but not be limited to, the repurchase of indebtedness issued by its collateralized debt obligations, as well as investments in real estate securities and/or other real estate related assets. Credit Suisse Securities (USA) LLC and Citigroup are the joint book-running managers for the offering.
5/16
Newcastle Investment Corp announced that it priced its public offering of 20,000,000 shares of its common stock at a public offering price of $6.71 per share for gross proceeds of approximately $134.2 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 3,000,000 shares of common stock. The offering is expected to close on May 21, 2012. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include, but not be limited to, investments in excess mortgage servicing rights, the repurchase of indebtedness issued by its collateralized debt obligations, as well as investments in real estate securities and/or other real estate related assets, including senior living facilities. Credit Suisse Securities (USA) LLC, Citigroup, and Deutsche Bank Securities Inc. are the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. is serving as co-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.
6/22
On the 14th this was released:
Newcastle Investment Corp announced that on June 12, 2012, it completed the first closing of its co-investment with Nationstar Mortgage LLC related to their acquisition of mortgage servicing rights (MSRs) from Aurora Bank FSB, a subsidiary of Lehman Brothers Bancorp Inc. The first closing relates to MSRs on two government-sponsored enterprise (GSE) loan pools with an unpaid principal balance of $16.1 billion. Newcastle is acquiring the right to receive 65% of the monthly cash flow generated by the MSRs, net of a base fee paid to Nationstar. Newcastle will not own the servicing rights and therefore will not have any servicing duties, advance obligations or liabilities associated with the portfolio. As previously disclosed, the closing of the investment in the remaining MSRs on the private label pools, is expected to occur on or about June 26, 2012, and the Company plan to post a presentation on its website outlining the entire Aurora investment at that time.
My guess was people loading up on the 22nd waiting for the 26th
7/26
Newcastle Investment Corp announced that it priced its public offering of common stock. The size of the offering has been upsized from 20,000,000 shares to 22,000,000 shares, for gross proceeds of approximately $147.4 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 3,300,000 shares of common stock. The offering is expected to close on July 31, 2012. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include, but not be limited to, investments in excess mortgage servicing rights, non-agency residential mortgage backed securities, senior living facilities and other investments in real estate securities and/or other real estate related assets. Credit Suisse Securities (USA) LLC, Citigroup and UBS Securities LLC are the joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. is serving as co-manager for the offering.
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