trending Market Intelligence /marketintelligence/en/news-insights/trending/BpNOClHoj_2f0DjkqzNUwg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Underwriters fully exercise option in Starwood common stock offering

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Blog

Banking Essentials Newsletter: May Edition, Part-2


Underwriters fully exercise option in Starwood common stock offering

Starwood Property Trust Inc. announced that underwriters for the company's public offering of 17.8 million common shares have exercised in full their option to purchase up to an additional 2,670,000 shares.

Consequently, Starwood is selling a total of 20,470,000 common shares for aggregate net proceeds of about $448.1 million, after deducting the company's estimated expenses.

Settlement of the sale of the additional shares is expected Dec. 9, concurrent with the settlement of the sale of the initial 17.8 million shares.

Starwood plans to use the offering's net proceeds to originate and purchase additional commercial mortgage loans and other target assets and investments. The company may also use part of the proceeds for other general corporate purposes, including the payment of liabilities and other working capital needs.

J.P. Morgan, Bank of America Merrill Lynch, Citigroup, Credit Suisse and Wells Fargo Securities are the joint book-running managers for the offering.