NorthStar Realty Finance Announces Pricing of Public Offering of $175 million of its 8.50% Series D Preferred Stock
NEW YORK, April 3, 2013 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) (the "Company") announced today that it priced an underwritten public offering of $175 million of its 8.50% Series D Preferred Stock with a liquidation preference of $25 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional $26.25 million of its Series D Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on April 10, 2013.
Citigroup and UBS Investment Bank are acting as the joint book-running managers of the offering. Barclays, Deutsche Bank Securities, J.P. Morgan and Keefe, Bruyette & Woods are acting as the joint-lead managers of the offering and FBR, 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.
A registration statement relating to the offered securities became effective upon filing with the Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the related prospectus for the proposed offering, when available, may be obtained by contacting: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146, or by emailing firstname.lastname@example.org; or by contacting UBS Securities LLC, Attention: Prospectus Specialist, 299 Park Avenue, New York, NY 10171 or by calling (877) 827-6444, extension 561 3884.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is a diversified commercial real estate investment and asset management company that is organized as internally managed REIT.
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like "expect," "intend" and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in economic conditions generally and the real estate and bond markets specifically, completion of the offering on the terms described in the registration statement, the prospectus supplement relating to this offering and the accompanying prospectus, if at all, and use of proceeds from the sale of the Series D Preferred Stock. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and its other filings with the SEC. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
SOURCE NorthStar Realty Finance Corp.