KKR Financial Corp. Prices Initial Public Offering at $24 Per Share
June 23 2005 - 11:44PM
PR Newswire (US)
KKR Financial Corp. Prices Initial Public Offering at $24 Per Share
SAN FRANCISCO, June 23 /PRNewswire-FirstCall/ -- KKR Financial
Corp. ("KKR Financial") announced today that its initial public
offering of 33,333,334 shares of common stock has been priced at
$24 per share. This offering includes 28,750 shares being sold by
existing stockholders. KKR Financial has granted the underwriters
an option to purchase up to an additional 4,166,666 additional
shares of common stock to cover over-allotments. The shares of KKR
Financial are scheduled to begin trading on June 24, 2005 on the
New York Stock Exchange under the ticker symbol "KFN." Citigroup
Global Markets Inc., Bear Stearns & Co., Inc., Credit Suisse
First Boston LLC, Lehman Brothers Inc., J.P. Morgan Securities
Inc., and Friedman, Billings, Ramsey, & Co., Inc. are serving
as joint book-running managers of the offering. A final prospectus
of the offering may be obtained from Citigroup Global Markets Inc.,
Prospectus Department, Brooklyn Army Terminal, 8th Floor, 140 58th
Street, Brooklyn, NY 11220, (Tel: 718-765-6732). KKR Financial
Corp., an affiliate of Kohlberg Kravis Roberts & Co. L.P., is a
diversified specialty finance company that invests across multiple
asset classes, including residential mortgage loans and
mortgage-backed securities, corporate loans and debt securities,
commercial real estate loans and debt securities, and asset-backed
securities. Founded in July 2004, KKR Financial has $7 billion in
assets under management. The following statement is included in
this press release in accordance with Rule 134(b)(1) of the
Securities Act of 1933, as amended: A registration statement
relating to shares of common stock of KKR Financial has been
declared effective by the Securities and Exchange Commission. This
release shall not constitute an offer to sell or the solicitation
of an offer to buy 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. CONTACT:
Investors Media Laurie Poggi Molly Morse / Roanne Kulakoff KKR
Financial Kekst and Company 415-315-3718 212-521-4826/4837
DATASOURCE: KKR Financial Corp. CONTACT: investors, Laurie Poggi of
KKR Financial Corp., +1-415-315-3718; or media, Molly Morse,
+1-212-521-4826, or Roanne Kulakoff, +1-212-521-4837, both of Kekst
and Company, for KKR Financial Corp.
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