NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (NYSE:LADR) (“Ladder” or the “Company”) announced
today that certain affiliates of Alberta Investment Management Corp., GI
Partners, Northgate Capital and TowerBrook Capital Partners
(collectively, the “Selling Stockholders”) have priced an underwritten
secondary public offering of 3,000,000 shares of the Company’s Class A
common stock, with gross proceeds to the Selling Stockholders of
approximately $42 million. The offering consists entirely of secondary
shares being sold by the Selling Stockholders, and the Company will not
receive any proceeds from the offering. UBS Investment Bank is acting as
the sole underwriter. The offering is expected to close on or about
March 13, 2017, and is 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 UBS Securities LLC,
Attention: Prospectus Department, 1285 Avenue of the Americas, New York,
NY 10019, or via telephone: (888) 827-7275.
The offering of these securities is being 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/20170308005400/en/
Investor Relations:
Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp