New Residential Announces Pricing of Public Offering of Common Stock

NEW YORK–(BUSINESS WIRE)–New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the
“Company”) announced today that it priced its underwritten public
offering of 40,297,096 shares of its common stock for gross proceeds of
approximately $664.9 million. Of the total number of shares being
offered, 40,000,000 shares are being offered by the Company and the
remainder is being offered by FIG LLC (the “Selling Stockholder”), which
acquired the shares through the exercise of outstanding options. The
underwriters may offer the shares from time to time for sale in one or
more transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or otherwise at
market prices prevailing at the time of sale, at prices relating to
prevailing market prices or at negotiated prices. The offering is
expected to close on February 22, 2019, subject to customary closing
conditions. In connection with the offering, the Company has granted the
underwriters an option for a period of 30 days to purchase up to an
additional 6,000,000 shares of common stock.

The Company intends to use its portion of the net proceeds from this
offering for investments and general corporate purposes. The Company
will not receive any proceeds from the sale of the shares by the Selling

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and J.P.
Morgan Securities LLC are acting as joint book-running managers for the
offering. BTIG, B. Riley FBR, Keefe, Bruyette & Woods, A Stifel
, Piper Jaffray and Raymond James are acting as co-managers
for the offering.

The offering is being made pursuant to the Company’s effective shelf
registration statement filed with the Securities and Exchange Commission
(the “SEC”). The offering is being made only by means of a prospectus
and a related prospectus supplement. Prospective investors should read
the prospectus supplement and the prospectus in that registration
statement and other documents the Company has filed or will file with
the SEC for more complete information about the Company and the
offering. You may obtain these documents for free by visiting EDGAR on
the SEC’s website at www.sec.gov. Alternatively, copies of the
prospectus supplement and the prospectus may be obtained from Morgan
Stanley & Co. LLC – Attn: Prospectus Department – 180 Varick St, 2nd
Floor; Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, email:
[email protected]; or J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, Attention: Prospectus Department, or by calling 866-803-9204.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall there
be any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.


New Residential focuses on opportunistically investing in, and
actively managing, investments primarily related to residential real
estate. The Company primarily targets investments in mortgage servicing
related assets and other related opportunistic investments. New
Residential is organized and conducts its operations to qualify as a
real estate investment trust (“REIT”) for federal income tax purposes.
The Company is managed by an affiliate of Fortress Investment Group LLC,
a global investment management firm.


Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, but not limited to, statements
relating to the offering and the intended use of proceeds of the
offering. These statements are based on management’s current
expectations and beliefs and are subject to a number of trends and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements, many of which are
beyond our control. The Company can give no assurance that its
expectations will be attained. Accordingly, you should not place undue
reliance on any forward-looking statements contained in this press

For a discussion of some of the risks and important factors that
could affect such forward-looking statements, see the sections entitled
“Risk Factors” in the prospectus supplement and the prospectus related
to the offering and in the Company’s most recent Annual Report on Form
10-K, as well as the sections entitled “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” incorporated
by reference in the prospectus supplement related to the offering from
the Company’s most recent Annual Report on Form 10-K. In addition, new
risks and uncertainties emerge from time to time, and it is not possible
for the Company to predict or assess the impact of every factor that may
cause its actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak only
as of the date of this press release. The Company expressly disclaims
any obligation to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Company’s expectations with regard thereto or change in events,
conditions or circumstances on which any statement is based.


New Residential Investment Corp.
Investor Relations


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