Cityscape Financial prices public offering of 2,500,000 shares of common stock.ELMSFORD, N.Y.--(BUSINESS WIRE)--Dec. 20, 1995--Cityscape Financial Corp. (Nasdaq National Market:CTYS CTYS Chat to You Soon ) announced today that it made an underwritten offering Underwritten offering A purchase and sale. of 2.5 million shares of its common stock at a price of $18 per share. Of the 2.5 million shares being offered, 1,250,000 are being sold by the company and 1,250,000 are being sold by certain institutional stockholders. In addition, certain management stockholders have granted the underwriters an option to purchase up to an additional 375,000 shares of common stock to cover over-allotments. The offering was made through an underwriting group managed by Alex. Brown & Sons Inc., NatWest Securities Limited and Wasserstein Perella Securities Inc. A portion of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). will be used by the company to retire and repay some of the company's outstanding debt. The balance of the net proceeds will be used to to fund future loan originations and purchases, to support securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. transactions and for general corporate purposes. Cityscape (company) CityScape - A re-seller of Internet connections to the PIPEX backbone. E-Mail: <sales@cityscape.co.uk>. Address: CityScape Internet Services, 59 Wycliffe Rd., Cambridge, CB1 3JE, England. Telephone: +44 (1223) 566 950. Financial Corp. is a consumer finance company engaged in the business of originating, purchasing, selling and servicing mortgage loans secured primarily by one- to four-family residences. The majority of the company's loans are made to owners of single-family residences who use the loan proceeds for such purposes as debt consolidation, financing of home improvements and educational expenditures, among others. A final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to these securities may be obtained from Alex. Brown & Sons Incorporated, 135 East Baltimore Street, Baltimore, Maryland 21202, (410) 727-1700; NatWest Securities Limited, 350 South Grand Avenue, Suite 3900, Los Angeles, California 90071, (213) 680-5330; or Wasserstein Perella Securities, Inc., 31 West 52nd Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10019, 212/969-2700. CONTACT: Cityscape Financial Corp. Robert C. Patent 914/592-6677 or Morgen-Walke Associates, Inc. Paul Steidler, Jackie Day 212/850-5600 |
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