August 14, 2009 (FinancialWire) — Ocwen Financial Corp. (NYSE: OCN) announced that yesterday evening it priced a public offering of 28 million shares of common stock at a price per share of $9.00. In addition, Ocwen has granted the underwriters a 30-day option to purchase up to an additional 4,200,000 shares of common stock to cover over-allotments, at the same price per share and on the same terms and conditions.

The net proceeds to Ocwen from the offering will be approximately $239.4 million after deducting underwriting discounts and before estimated offering expenses, exclusive of any proceeds attributable to any possible exercise of the underwriters’ over-allotment option. Ocwen intends to use the proceeds for general corporate purposes, including, without limitation, acquisitions and working capital.

J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the common stock offering. Piper Jaffray & Co. and Keefe, Bruyette & Woods, Inc. are acting as co-managers.

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