SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 31, 1997
OCWEN FINANCIAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
FLORIDA 0-21341 65-0039856
(STATE OR OTHER (COMMISSION (I.R.S. EMPLOYER
JURISDICTION FILE NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
THE FORUM, SUITE 1000
1675 PALM BEACH LAKES BOULEVARD, WEST PALM BEACH, FLORIDA 33401
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)
(561) 681-8000
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
N/A
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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EXHIBIT INDEX ON PAGE 4
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ITEM 5. OTHER EVENTS
The news release of Ocwen Financial Corporation dated July 31, 1997, announcing
that shares of its common stock will begin trading on the New York Stock
Exchange under the symbol "OCN" on August 1, 1997, is attached and filed
herewith as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The following exhibit is filed as part of this report:
(99) News release of Ocwen Financial Corporation
dated July 31, 1997.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
OCWEN FINANCIAL CORPORATION
(Registrant)
By: /s/ Mark S. Zeidman
--------------------------------
Mark S. Zeidman
Senior Vice President and
Chief Financial Officer
Date: July 31, 1997
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INDEX TO EXHIBIT
EXHIBIT NO. DESCRIPTION PAGE
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99 News release of Ocwen Financial Corporation dated 5
July 31, 1997 announcing that shares of its common
stock will begin trading on the New York Stock
Exchange under the symbol "OCN" on August 1, 1997.
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Exhibit 99
Ocwen Financial Corporation
1675 Palm Beach Lakes Blvd.
West Palm Beach, FL 33401
NYSE Symbol: OCN
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NEWS RELEASE: IMMEDIATE July 31, 1997
OCWEN FINANCIAL CORPORATION BEGINS TRADING ON THE NEW YORK STOCK EXCHANGE
Ocwen Financial Corporation ("Ocwen") announced today that shares of its common
stock, par value $.01 per share (the "Common Stock"), will begin trading on the
New York Stock Exchange under the symbol "OCN" on Friday, August 1, 1997.
Ocwen has traded on the NASDAQ National Market System under the symbol "OCWN"
since September 1996, when Ocwen completed its initial public offering. Upon
effectiveness of its NYSE listing, Ocwen will delist its Common Stock from
NASDAQ.
William C. Erbey, Chairman and Chief Executive Officer of Ocwen, said, "The
listing of Ocwen's Common Stock on the world's premier exchange is a major
milestone for Ocwen and highlights the growth and value created by our
employees. We are very pleased with the value our shareholders have already
received from their investment in Ocwen, and we believe the listing on the New
York Stock Exchange will increase our potential investor base, provide greater
liquidity and reduce trading volatility, thereby further enhancing that
investment. This decision reflects the intent of our Board of Directors to
establish the most efficient trading market possible for our shareholders."
Ocwen's business is comprised of a variety of operations which leverage Ocwen's
core skills and technology in servicing and resolving subperforming and
nonperforming real estate assets.
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Contacts Christine A. Reich (561) 681-8957
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