Starwood Property Trust Inc Announces Public Offering of Common Stock


Monday, 8 Apr 2013 04:12pm EDT 

Starwood Property Trust Inc announced that it is offering 26,500,000 shares of its common stock in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 3,975,000 shares from the Company. All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. The Company intends to use the net proceeds received from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments. Depending upon the timing of the closing of those transactions, the closing of the Company's acquisition of certain business segments of LNR Property LLC (LNR), and the Company's receipt of funds from asset repayments, sales of assets or other financings, the Company may utilize a portion of the net proceeds to fund a portion of the purchase price of LNR. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs. Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC will serve as joint book-running managers for the offering. 

Company Quote

23.85
0.04 +0.17%
29 Aug 2014