PHOENIX - Homeplex Mortgage Investments Corp. announced that it is in negotiations to acquire American Southwest Holdings Inc., a privately held Phoenix-based group of companies engaged in mortgage securitization and bond administration.

American Southwest has net worth of about $3 million. As contemplated, the American Southwest stockholders would receive about 6.6 million shares of Homeplex common stock in exchange for all common shares of American Southwest.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.