Newcastle Investment Corp. announced to make a public offer of 30,000,000 shares of its common stock today. The company proposes a 30 day option for granted underwriters in acquiring said shares. The option will also allow underwriters to purchase additional common stock of up to 4,500,000 shares.

The company is managed by a global investment management firm, Fortress Investment Group LLC. Newcastle is directed towards real estate related assets and operates as a qualified real estate investment trust.

The net proceeds of the public offer will be used by Newcastle for general corporate purposes. This includes making a variety of investments and acquisitions of senior housing properties. Acquisitions of CDO debt and other real estate loans and securities will also utilize the proceeds from the said public offer.

Credit Suisse Securities LLC, UBS Securities LLC and Band of America Merill Lynch have joined together as book-running managers for the offer. The public offer will pursue according to Newcastle's current shelf registration statement that was filed with the Securities and Exchange Commission.