NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (NYSE:LADR) (“Ladder” or the “Company”) announced
today the closing of an underwritten secondary public offering of shares
of the Company’s Class A common stock offered at a price to the public
of $13.60 per share. In the offering, the underwriters exercised their
option in full to purchase an additional 1,500,000 shares. As a result,
an aggregate of 11,500,000 shares of Class A common stock were sold by
certain affiliates of Alberta Investment Management Corp., GI Partners,
Northgate Capital and TowerBrook Capital Partners (collectively, the
“Selling Stockholders”). The Company did not receive any proceeds from
the offering. BofA Merrill Lynch, Deutsche Bank Securities and Wells
Fargo Securities acted as joint book-running managers and as
representatives of the underwriters for the offering. Additional
book-running managers were Barclays, Citigroup and J.P. Morgan. FBR, JMP
Securities and Keefe, Bruyette & Woods, a Stifel Company, acted as
co-managers for the offering.
A shelf registration statement (including prospectus) relating to the
shares was filed with the Securities and Exchange Commission (the “SEC”)
and declared effective by the SEC. Before you invest, you should read
the final prospectus and other documents filed by Ladder with the SEC
for more complete information about Ladder and this offering. You may
get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, copies of the final prospectus supplement and
accompanying prospectus may be obtained from BofA Merrill Lynch, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn:
Prospectus Department or via email: dg.prospectus_requests@baml.com;
Deutsche Bank Securities Inc., Prospectus Group, 60 Wall Street, New
York, NY 10005, via telephone: 1-800-503-4611 or via email: prospectus.cpdg@db.com;
or Wells Fargo Securities, LLC, 375 Park Avenue New York, NY 10152,
Attention: Equity Syndicate Department, via telephone: 1-800-326-5897 or
via email: cmclientsupport@wellsfargo.com.
The offering of these securities was made only by means of a prospectus
supplement and the accompanying prospectus. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Ladder
Ladder is an internally-managed real estate investment trust that is a
leader in commercial real estate finance. Ladder originates and invests
in a diverse portfolio of commercial real estate and real estate-related
assets, focusing on senior secured assets. Ladder’s investment
activities include: (i) direct origination of commercial real estate
first mortgage loans; (ii) investments in investment grade securities
secured by first mortgage loans on commercial real estate; and (iii)
investments in net leased and other commercial real estate equity.
Founded in 2008, Ladder is run by a highly experienced management team
with extensive expertise in all aspects of the commercial real estate
industry, including origination, credit, underwriting, structuring,
capital markets and asset management. Led by Brian Harris, the Company’s
Chief Executive Officer, Ladder is headquartered in New York City and
has branches in Los Angeles and Boca Raton.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161212005812/en/
Investor Relations:
Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp