PennyMac Mortgage Investment Trust on Aug. 13 closed its common stock offering.
The real estate investment trust sold 8 million common shares at $21.53 apiece and the underwriters fully exercised their option to purchase up to an additional 1.2 million common shares. PennyMac received net proceeds of about $197.8 million from the offering.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BofA Securities Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were joint book-running managers and representatives of the underwriters. Piper Jaffray & Co. was the co-manager.