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Ladder Capital announces closing of secondary offering

Ladder Capital Corp announced the closing of its underwritten secondary public offering of its class A common shares.

The underwriters exercised their option in full to purchase an additional 1.5 million shares. The selling shareholders — certain affiliates of Alberta Investment Management Corp., GI Partners, Northgate Capital and TowerBrook Capital Partners sold an aggregate of 11.5 million shares at $13.60 apiece.

The company received no proceeds from the offering.

Bank of America Merrill Lynch, Deutsche Bank Securities and Wells Fargo Securities acted as joint book-running managers and as representatives of the underwriters for the offering. Additional book-running managers were Barclays, Citigroup and J.P. Morgan. FBR, JMP Securities and Keefe Bruyette & Woods acted as co-managers for the offering.