BETHESDA, Md., Nov. 20, 2014 /PRNewswire/ -- Walker & Dunlop, Inc. (the "Company") (NYSE: WD) announced today the pricing of an underwritten offering of 2,000,000 shares of its common stock, par value $0.01 per share, held by funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG) (the "Selling Stockholders"). Morgan Stanley & Co. LLC, acting as Underwriter (the "Underwriter"), will be offering an aggregate of 2,000,000 shares of the Company's common stock from the Selling Stockholders at a price to the public of $15.50 per share.
The Company will not receive any proceeds from this offering. In connection with the offering, the Underwriter has a 30-day option to purchase an aggregate of an additional 300,000 shares from the Selling Stockholders.
The offering is scheduled to close on or about November 25, 2014, subject to customary closing conditions. All shares are being offered pursuant to the prospectus supplement and the accompanying prospectus filed with the Securities and Exchange Commission.
The Underwriter may offer the shares from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
The offering of the shares will be made under the Company's shelf registration statement, which was previously declared effective by the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and prospectus, which will be filed with the Securities and Exchange Commission. A copy of the prospectus supplement and prospectus related to the offering can be obtained when available by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
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 our common stock in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, MD, is one of the premier commercial real estate finance companies in the nation. The firm's scaled lending platform provides customers with a comprehensive suite of financing solutions for multifamily and commercial properties located across the United States. Walker & Dunlop has more than 450 professionals with an unyielding commitment to client satisfaction located in 22 offices nationwide.
Forward Looking Statements
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as ''may,'' ''will,'' ''should,'' ''expects,'' ''intends,'' ''plans,'' ''anticipates,'' ''believes,'' ''estimates,'' ''predicts,'' or ''potential'' or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.
The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.
While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, (2) regulatory and or legislative changes to Freddie Mac, Fannie Mae or HUD, (3) our ability to retain and attract loan originators and other professionals, and (4) changes in federal government fiscal and monetary policies, including any constraints or cuts in federal funds allocated to HUD for loan originations.
For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section entitled ''Risk Factors" in our most recent Annual Report on Form 10-K and in our subsequent SEC filings.
SOURCE Walker & Dunlop, Inc.