Freedom Mortgage Corporation Announces Closing of Initial Public Offering of its Strategic Alliance Partner
MOUNT LAUREL, N.J., Oct. 9, 2013 /PRNewswire/ -- Freedom Mortgage Corporation, a national mortgage lender licensed in 50 states, announced today the closing of the initial public offering of 6,500,000 shares of common stock of its strategic alliance partner, Cherry Hill Mortgage Investment Corporation (NYSE: CHMI), at a public offering price of $20.00 per share.
Cherry Hill Mortgage Investment Corporation is a residential real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is externally managed and advised by Cherry Hill Mortgage Management, LLC, which is an affiliate of Freedom Mortgage Corporation.
Cherry Hill Mortgage Investment Corporation used a portion of the proceeds of the offering, together with additional proceeds from the sale of an additional 1,000,000 shares of common stock at the public offering price in a concurrent private placement, to acquire interests in mortgage servicing rights, from Freedom Mortgage.
A registration statement relating to the shares sold by Cherry Hill Mortgage Investment Corporation in the offering was declared effective by the Securities and Exchange Commission on September 30, 2013. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Freedom Mortgage
Freedom Mortgage Corporation is a national, full service mortgage banker with wholesale, retail, commercial, correspondent and servicing operations. The company is licensed in all 50 states, DC and Puerto Rico. Freedom Mortgage maintains an A+ rating with the Better Business Bureau and is known for using the most advanced technologies and providing world-class service to its clients, borrowers and partners. The company was founded in 1990 and is headquartered in Mount Laurel, New Jersey. For more information, please visit www.FreedomMortgage.com.
Director of Public Relations, Freedom Mortgage Corporation
SOURCE Freedom Mortgage Corporation