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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Starwood Property Trust Inc Announces Pricing of Common Stock Offering

Tuesday, 9 Apr 2013 09:16am EDT 

Starwood Property Trust Inc announced the pricing of an underwritten public offering of 26,500,000 shares of its common stock for total estimated gross proceeds of approximately $723.5 million (or approximately $832.0 million if the option to purchase additional shares is exercised in full). The underwriters have a 30-day option to purchase up to an additional 3,975,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on April 12, 2013. 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. 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 are acting as joint book-running managers for the offering. 

Company Quote

-0.2 -0.85%
11 Jul 2014