Sutherland Asset Management Corp. is starting a public offering of $100 million of convertible senior notes due 2023.

The company also plans to grant the underwriters the option to buy up to an additional $15 million of the notes at the public offering price minus the underwriting discount.

Sutherland plans to use the net proceeds to originate or acquire additional mortgage loans and mortgage-related assets and for general corporate purposes.

Keefe Bruyette & Woods Inc. and JMP Securities LLC are serving as joint book-running managers. Compass Point Research & Trading LLC is serving as co-manager.