WEST PALM BEACH, Fla., March 15, 2005 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) announced today that a Registration Statement on Form S-3 relating to the resale of $175 million aggregate principal amount of its 3.25% Contingent Convertible Senior Unsecured Notes Due 2024, and the shares of common stock issuable upon conversion of the notes, has been declared effective by the Securities and Exchange Commission.
Ocwen will not receive any proceeds from any resale by the selling securityholders of the convertible notes or the shares of common stock issuable upon conversion of the convertible notes.
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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus relating to the offering of the convertible notes and the shares of common stock issuable upon conversion of the convertible notes may be obtained by submitting a written request to: Ocwen Financial Corporation, Corporate Secretary, 1675 Palm Beach Lakes Boulevard, West Palm Beach, Florida 33401.
Ocwen Financial Corporation is a diversified financial services holding company with headquarters in West Palm Beach, Florida and operations in Canada, Germany, India, Japan and Taiwan. Ocwen Financial Corporation is engaged in a variety of businesses related to residential and commercial mortgage servicing, real estate asset management, asset recovery, global outsourcing and the marketing and sales of technology solutions to third parties. Ocwen Financial Corporation is a global leader in customer service excellence as a result of our company-wide commitment to quality, integrity and accountability. Additional information about Ocwen Financial Corporation is available at http://www.ocwen.com.