InPoint Commercial Real Estate Income Inc. has closed the sale of about 153,226 class P common shares for a total of about $4.2 million.
The sale was made in connection with the private placement of up to $500 million of class P shares to accredited investors, which began Oct. 25, 2016. The maximum initial purchase price per class P share is $27.38, including a $25.00-per-share transaction price prior to the determination of the company's net asset value per share plus commissions, fees and expenses.
As of March 1, the company had sold about 2,216,887 class P shares for total gross proceeds of about $59.5 million.
