Initial public offering
Our attorneys advised Five Oaks Investment Corp. in its initial public offering, which closed on March 27, 2013. The IPO, as well as a concurrent private placement to an indirect wholly owned subsidiary of XL Group plc (NYSE:XL), raised a total of $85.5 million in sales of common stock prior to any exercise of the underwriters’ over-allotment option. Barclays Capital, Credit Suisse, UBS Securities LLC and Keefe, Bruyette & Woods served as joint book-running managers.
Five Oaks is a Maryland corporation that operates as a mortgage real estate investment trust. The corporation focuses on investing in, financing and managing a leveraged portfolio of Agency and Non-Agency residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments. The Manager of Five Oaks, Oak Circle Capital Partners LLC, is a SEC-registered investment adviser, and is also represented by our attorneys. Both Five Oaks and Oak Circle are based in New York.