GREENWICH, Conn., Sept. 3,
2024 /PRNewswire/ -- Starwood Property Trust, Inc.
(NYSE: STWD) (the "Company") today announced that, subject to
market and other conditions, it is offering 17,500,000 shares of
its common stock in an underwritten public offering. The
underwriters will have a 30-day option from the date of the
offering to purchase up to an additional 2,625,000 shares from the
Company. All of the shares will be issued under the Company's
currently effective shelf registration statement filed with the
Securities and Exchange Commission.
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 repayment of
outstanding indebtedness under the Company's repurchase
facilities.
Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley
will serve as joint book-running managers for the offering.
The offering of these securities may be made only by means of a
prospectus and a related prospectus supplement, a copy of which may
be obtained by contacting: Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone:
(800) 831-9146; Goldman Sachs & Co. LLC, 200 West Street,
New York, NY 10282-2198,
Attention: Prospectus Department, Telephone: 866-471-2526, Email:
Prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York,
NY 10014, Attn: Prospectus Department.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. (NYSE: STWD), an affiliate of
global private investment firm Starwood Capital Group, is a leading
diversified finance company with a core focus on the real estate
and infrastructure sectors. As of June
30, 2024, the Company has successfully deployed over
$98 billion of capital since
inception and manages a portfolio of $26
billion across debt and equity investments. Starwood
Property Trust's investment objective is to generate attractive and
stable returns for shareholders, primarily through dividends, by
leveraging a premiere global organization to identify and execute
on the best risk adjusted returning investments across its target
assets.
Forward-Looking Statements
Statements in this press release which are not historical fact
may be deemed forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
with respect to the anticipated offering and the use of proceeds.
Although the Company believes the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from
the Company's expectations include: (i) factors described in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2023 and its Quarterly Reports on Form 10-Q
for the quarters ended March 31, 2024
and June 30, 2024, including those
set forth under the captions "Risk Factors", "Business", and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations"; (ii) defaults by borrowers in paying debt
service on outstanding indebtedness; (iii) impairment in the
value of real estate property securing the Company's loans or in
which the Company invests; (iv) availability of mortgage
origination and acquisition opportunities acceptable to the
Company; (v) potential mismatches in the timing of asset repayments
and the maturity of the associated financing agreements; (vi) the
Company's ability to achieve the benefits that it anticipates from
the prior acquisition of the project finance origination,
underwriting and capital markets business of GE Capital Global
Holdings, LLC; (vii) national and local economic and business
conditions, including as a result of the impact of public health
emergencies; (viii) the occurrence of certain geo-political events
(such as wars, terrorist attacks and tensions between states) that
affect the normal and peaceful course of international relations;
(ix) general and local commercial and residential real estate
property conditions; (x) changes in federal government policies;
(xi) changes in federal, state and local governmental laws and
regulations; (xii) increased competition from entities engaged in
mortgage lending and securities investing activities; (xiii)
changes in interest rates; and (xiv) the availability of, and costs
associated with, sources of liquidity.
Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone:
203-422-7788
Email:
ztanenbaum@starwood.com
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SOURCE Starwood Property Trust, Inc.