Ladder Capital Corp Announces Pricing of Secondary Public Offering of Class A Common Stock
December 07 2016 - 8:00AM
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.
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Investor Relations:Ladder Capital Corp Investor
Relations917-369-3207investor.relations@laddercapital.com
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