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RoundPoint Mortgage Servicing Corporation Completes $94 Million Equity Private Placement of Convertible Preferred Stock

NationalMortgageProfessional.com
Aug 25, 2018
RoundPoint Mortgage Servicing Corporation has announced it has replaced two of its existing debt facilities with a new, $650 million facility. Under the new facility, the credit commitment has increased by over $300 million

RoundPoint Mortgage Servicing Corporation has announced that it has completed a $94 million equity private placement of convertible preferred stock.
 
“We are excited to work with new partners that share our vision for continued growth at RoundPoint. This capital raise will assist us in our mission to build a leading, fully integrated mortgage banking institution that promotes sustainable homeownership,” said Kevin Brungardt, Chief Executive Officer of RoundPoint. “The proceeds from the offering will be used primarily to support our ongoing expansion of our firm such as growing the company’s leading mortgage servicing rights co-issue program and investing in other corporate initiatives that should generate strong market-rate returns, and secondarily for other corporate purposes, such as repaying certain indebtedness.”
 
The convertible preferred stock was offered and sold in a transaction that was exempt from the registration requirements of the United States Securities Act of 1933. The convertible preferred stock has not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration, or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.


 
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