NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (NYSE:LADR) (“Ladder” or the “Company”) announced
today the pricing of its offering of 5,800,000 shares of its Class A
common stock in an underwritten primary public offering, for total
estimated gross proceeds of approximately $100 million. In addition, the
Company has granted the underwriters an option to purchase up to an
additional 870,000 shares. The shares will be offered from time to time
for sale in one or more transactions on the New York Stock Exchange, 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 Company
intends to use the proceeds from the offering to make additional
investments, consistent with its investment policy, and for general
corporate purposes, including repayment of existing indebtedness. The
offering is expected to close on or about November 16, 2018, and is
subject to customary closing conditions.
Citigroup, Deutsche Bank Securities, Barclays Capital Inc., BTIG,
Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as
underwriters for the offering.
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 may be obtained from Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone
at (800) 831-9146; Deutsche Bank Securities Inc., Attn.: Prospectus
Group, 60 Wall Street, New York, NY 10005-2836, by telephone at (800)
503-4611, or by email at prospectus.CPDG@db.com;
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847 or by
email at barclaysprospectus@broadridge.com;
BTIG, LLC, at 825 Third Avenue, 6th Floor, New York, NY 10022,
Attention: Equity Capital Markets, by telephone at (212) 593-7555 or by
e-mail at equitycapitalmarkets@btig.com;
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, by telephone at (866) 471-2526, or by email
at prospectus-ny@ny.email.gs.com;
and Wells Fargo Securities, Attention: Equity Syndicate Department, 375
Park Avenue, New York, NY 10152, by telephone at (800) 326-5897 or email
to 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 with a
West Coast office in Santa Monica.
Safe Harbor for Forward-Looking and Cautionary Statements
Certain statements in this release may constitute “forward-looking”
statements. These statements are based on management’s current opinions,
expectations, beliefs, plans, objectives, assumptions or projections
regarding future events or future results. These forward-looking
statements are only predictions, not historical fact, and involve
certain risks and uncertainties, as well as assumptions. Actual results,
levels of activity, performance, achievements and events could differ
materially from those stated, anticipated or implied by such
forward-looking statements. While Ladder believes that its assumptions
are reasonable, it is very difficult to predict the impact of known
factors, and, of course, it is impossible to anticipate all factors that
could affect actual results. There are a number of risks and
uncertainties that could cause actual results to differ materially from
forward-looking statements made herein including, most prominently, the
risks discussed under the heading “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2017, as well as its
consolidated financial statements, related notes, and other financial
information appearing therein, and its other filings with the U.S.
Securities and Exchange Commission. Such forward-looking statements are
made only as of the date of this release. Ladder expressly disclaims any
obligation or undertaking to release any updates or revisions to any
forward-looking statements contained herein to reflect any change in its
expectations with regard thereto or changes in events, conditions, or
circumstances on which any such statement is based.
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Investor Relations:
Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp