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Blackstone Mortgage Trust Prices 22.5M Share Offfering at $25.50/Share

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Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced the pricing of an underwritten public offering of 22,500,000 shares of its class A common stock pursuant to a registration statement filed with the Securities and Exchange Commission at a public offering price of $25.50 per share.  The offering was…Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced the pricing of an underwritten public offering of 22,500,000 shares of its class A common stock pursuant to a registration statement filed with the Securities and Exchange Commission at a public offering price of $25.50 per share.  The offering was upsized from 16,000,000 shares to 22,500,000 shares. The offering is expected to close on May 29, 2013 and is subject to customary closing conditions. The offering will generate gross proceeds of approximately $573.8 million, or $659.8 million if the underwriters exercise their option to purchase additional shares in full.

The Company intends to use the proceeds from the offering to originate and acquire an initial portfolio of senior mortgage loans and pari passu participations in existing senior mortgage loans, to originate and acquire additional commercial real estate loans in the United States and Europe, and for working capital and general corporate purposes.

Citigroup, BofA Merrill Lynch, J.P. Morgan, Deutsche Bank Securities, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering. Blackstone Capital Markets, Keefe, Bruyette & Woods A Stifel Company, Evercore Partners and JMP Securities are acting as co-managers.

See full press release

Posted-In: News Guidance Management M&A

 

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