Safehold Announces Public Offering and Concurrent Private Placement
November 18 2019 - 4:15PM
Business Wire
Safehold Inc. (NYSE:SAFE) (the “Company”) announced today that
it has commenced an underwritten public offering to sell 2,000,000
shares of its common stock. The Company intends to grant the
underwriters in the offering a 30-day option to purchase up to an
additional 300,000 shares of its common stock.
Concurrently with the completion of the public offering, the
Company will sell to iStar Inc. (NYSE:STAR), in a private
placement, a number of shares of common stock equal to 65% of the
total number of shares sold in the offering and the concurrent
private placement (including any shares sold pursuant to the
underwriters' additional purchase option) up to a maximum aggregate
purchase price of $130 million, at the public offering price per
share and subject to rounding.
The Company intends to use the net proceeds from the offering
and concurrent private placement to make additional ground lease
investments.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock offered in
the public offering or the concurrent iStar placement, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan,
Barclays, and Mizuho Securities will act as joint book-running
managers for the offering. The Company has filed a registration
statement on Form S-3 (including a preliminary prospectus
supplement and accompanying prospectus) with the SEC for the
offering to which this communication relates. Before you invest,
you should read the preliminary prospectus supplement and
accompanying prospectus and other documents the Company has filed
with the SEC for more complete information about the Company and
this offering. You may obtain these documents for free by visiting
EDGAR on the SEC website at www.sec.gov. The Company or any
underwriter or any dealer participating in the offering will
arrange to send you the preliminary prospectus supplement and
accompanying prospectus if you request it by contacting Goldman
Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn:
Prospectus Department or by email to prospectus-NY@ny.email.gs.com
or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or by
email to dg.prospectus_requests@bofa.com or J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, Telephone: (866) 803-9204.
About Safehold:
Safehold Inc. (NYSE:SAFE) is a publicly traded REIT that
originates and acquires ground leases in order to generate
attractive long-term risk-adjusted returns.
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version on businesswire.com: https://www.businesswire.com/news/home/20191118005819/en/
Company: Jason Fooks, Senior Vice President of Investor
Relations & Marketing 212.930.9400
investors@safeholdinc.com
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