NorthStar Realty Finance Announces Public Offering of $50M of its New Series C Preferred Stock
NorthStar Realty Finance (NYSE: NRF) announced today that it has commenced an underwritten public offering of $50 million of its new Series C Preferred Stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional $7.5 million of its Series C Preferred Stock solely to cover over-allotments, if any.
UBS Investment Bank and Citigroup are acting as the joint book-running managers of the offering. Barclays, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as the co-lead managers of the offering and JMP Securities, MLV & Co. and Sterne Agee are acting as the co-managers of the offering.
The Company intends to use the net proceeds of the offering to make investments relating to its business, to repurchase or pay its liabilities and for general corporate purposes.
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