Starwood Property Trust Announces Public Offering of Common Stock
GREENWICH, Conn., Oct. 3, 2012 /PRNewswire/ -- 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.
BofA Merrill Lynch and Citigroup are acting as the underwriters 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: BofA Merrill Lynch, 222 Broadway, 7th Floor, New York, New York 10038, Attention: Prospectus Department or e-mail firstname.lastname@example.org; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Tel: 800-831-9146 or e-mail email@example.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
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. 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, 2011, including those set forth under the caption "Business," in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2012 and June 30, 2012, including those set forth under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2012, and in our other periodic reports filed with the Securities and Exchange Commission; (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; (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) national and local economic and business conditions; (vii) general and local commercial real estate property conditions; (viii) changes in federal government policies; (ix) changes in federal, state and local governmental laws and regulations; (x) increased competition from entities engaged in mortgage lending; (xi) changes in interest rates; (xii) changes in the exchange rates between the U.S. dollar and the respective currencies for the Company's non-dollar denominated investments; and (xiii) the availability of and costs associated with sources of liquidity.
SOURCE Starwood Property Trust, Inc.
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