Mortgage REIT Cherry Hill Mortgage sets per share price at $20
Cherry Hill Mortgage Investment, a mortgage REIT investing in
Excess MSRs, Agency RMBS, and prime jumbo mortgage loans,
announced a per share price of $20 for its IPO on Wednesday. The
Moorestown, NJ-based company did not disclose the quantity of
shares that will be offered; however, based on its initial
filing, we estimate that Cherry Hill plans to raise up to $150
Cherry Hill Mortgage Investment, which was founded in 2012 and has yet to commence operations, plans to list on the NYSE under the symbol CHMI. Cherry Hill Mortgage Investment filed confidentially on March 13, 2013. Barclays, Morgan Stanley, Citi and UBS are the joint bookrunners on the deal.