Starwood Property Offers 14.5M Shares
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it is offering 14,500,000 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 2,175,000 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 to 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 payment of liabilities and other working capital needs.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.