NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (NYSE:LADR) (“Ladder” or the “Company”) announced
today that the previously announced underwritten secondary public
offering of 10,000,000 shares of the Company’s Class A common stock
priced at a price to the public of $13.60 per share. The offering
consists entirely of secondary shares to be sold by certain affiliates
of Alberta Investment Management Corp., GI Partners, Northgate Capital
and TowerBrook Capital Partners (collectively, the “Selling
Stockholders”), and the Company will not receive any proceeds from the
offering. Certain of the Selling Stockholders have also granted the
underwriters a 30-day option to purchase up to an additional 1,500,000
shares. BofA Merrill Lynch, Deutsche Bank Securities and Wells Fargo
Securities are acting as joint book-running managers and as
representatives of the underwriters for the offering. Additional
book-running managers are Barclays, Citigroup and J.P. Morgan. FBR, JMP
Securities and Keefe, Bruyette & Woods, a Stifel Company, are acting as
co-managers for the offering. The offering is expected to close on
December 12, 2016, subject to customary closing conditions.
A shelf registration statement (including prospectus) relating to the
shares has been filed with the Securities and Exchange Commission (the
“SEC”) and has become effective. Before you invest, you should read the
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 prospectus supplement and accompanying
prospectus, when available, 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 will be 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.
Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding the offering. These statements are not
historical facts but rather are based on the Company’s current
expectations, estimates and projections regarding the Company’s
business, operations and other factors relating thereto. Words such as
“may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,”
“potential,” “continue,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates” and similar expressions are used to identify
these forward-looking statements. These statements are only predictions
and as such are not guarantees of future performance and involve risks,
uncertainties and assumptions that are difficult to predict. Actual
results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in the Company’s filings with the SEC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161207005420/en/
Investor Relations:
Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp