BrightSpire Capital, Inc. Prices Secondary Offering by DigitalBridge Group, Inc.
February 28 2023 - 10:30PM
Business Wire
BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or
the “Company”) announced today the pricing of a secondary offering
of 30,358,213 shares of its Class A common stock by a selling
stockholder affiliated with DigitalBridge Group, Inc.
(“DigitalBridge”) at a public offering price of $6.00 per share.
The offering is expected to close on March 3, 2023, subject to
customary closing conditions. Additionally, DigitalBridge has
granted the underwriters a 30-day option to purchase up to
4,553,731 additional shares of the Company’s Class A common stock
at the public offering price, less underwriting discounts and
commissions.
BrightSpire Capital did not offer any shares of Class A common
stock in the offering and will not receive any proceeds from the
sale of shares in this offering. In addition, none of BrightSpire
Capital’s directors or officers sold any shares of Class A common
stock in this offering.
J.P. Morgan, Barclays and BofA Securities are serving as joint
book-running managers for the offering and B. Riley Securities and
Raymond James are serving as co-managers for the offering.
The offering of these securities is being made pursuant to an
effective shelf registration statement. This offering will be made
only by means of a prospectus supplement. A copy of the final
prospectus supplement, when available, may be obtained from: J.P.
Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-866-803-9204 and Barclays Capital Inc., Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (888) 603-5847.
This press 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.
About BrightSpire Capital, Inc.
BrightSpire Capital, Inc. is internally managed and one of the
largest publicly traded commercial real estate (CRE) credit REITs,
focused on originating, acquiring, financing and managing a
diversified portfolio consisting primarily of CRE debt investments
and net leased properties predominantly in the United States. CRE
debt investments primarily consist of first mortgage loans, which
we expect to be the primary investment strategy. BrightSpire
Capital is organized as a Maryland corporation and taxed as a REIT
for U.S. federal income tax purposes.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” or “potential” or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Additional information about these and
other factors can be found in Part I, Item 1A of the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2022, as well as in BrightSpire Capital’s other filings with the
U.S. Securities and Exchange Commission. Moreover, each of the
factors referenced above are likely to also be impacted directly or
indirectly by the ongoing impact of COVID-19 and investors are
cautioned to interpret substantially all of such statements and
risks as being heightened as a result of the ongoing impact of the
COVID-19.
BrightSpire Capital cautions its investors not to unduly rely on
any forward-looking statements. The forward-looking statements
speak only as of the date of this press release. BrightSpire
Capital is under no duty to update any of these forward-looking
statements after the date of this press release, nor to conform
prior statements to actual results or revised expectations, and
BrightSpire Capital does not intend to do so.
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Investor Relations BrightSpire Capital, Inc. Addo
Investor Relations Anne McGuinness 310-829-5400 brsp@addo.com
BrightSpire Capital (NYSE:BRSP)
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