NEW YORK, May 9, 2011 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) announced today the launch of an underwritten public offering of its common stock.
Citi and Wells Fargo Securities are the joint book-running managers for the offering, and FBR Capital Markets is the co-manager for the offering. The underwriters are expected to be granted a 30-day option to purchase up to 2.25 million additional shares of common stock to cover over-allotments, if any.
NorthStar expects to use the net proceeds from the sale of the common stock to purchase or repay its indebtedness, make investments relating to its business and for general corporate purposes.
A registration statement relating to the shares has been filed with the Securities and Exchange Commission. The offering of the shares of common stock will be made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the prospectus supplement and accompanying prospectus may be obtained from Citi, ATTN: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or by calling (800) 831-9146, or Wells Fargo Securities, ATTN: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, or by calling (800) 326-5897, or email a request to firstname.lastname@example.org.
This release shall not constitute an offer to sell or the 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.
Safe Harbor Statement
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 "anticipate," "believe," "plan," "hope," "goal," "expect," "future," "intend," "will," "could" and "should," 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; NorthStar 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 NorthStar'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, if at all, and use of proceeds from the sale of the common stock. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in NorthStar's Annual Report on Form 10-K for the year ended December 31, 2010, as amended, and its other filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. NorthStar 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.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is a finance REIT that primarily originates and invests in commercial real estate debt, real estate securities and net lease properties.
SOURCE NorthStar Realty Finance Corp.