Five Oaks Investment, a REIT focused on investing in, financing and managing agency and non-agency RMBS, announced terms for its IPO on Wednesday. The New York, NY-based company plans to raise $86 million by offering 5.7 million shares at a price of $15. At the proposed price, Five Oaks Investment would command a market value of $111 million.
Five Oaks Investment, which was founded in 2012 and booked $6 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE. It changed its symbol from FOIC to OAKS in the most recent filing Barclays, Credit Suisse, UBS Investment Bank and Keefe, Bruyette & Woods are the joint bookrunners on the deal.
