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April 17, 2012 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock. The underwriters have a 30-day option to purchase up to an additional 3,000,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on
April 20, 2012. All of the shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.
The Company intends to use the net proceeds received from the offering to originate and to purchase additional commercial mortgage loans and other assets. The Company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs.
Citigroup and Wells Fargo Securities are acting as the underwriters for the offering.
The offering of these securities may be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th Floor,
Brooklyn, NY 11220, Attention: Prospectus Department, Telephone: (800) 831-9146, or by e-mailing
email@example.com; or Wells Fargo Securities, 375 Park Avenue,
New York, NY 10152, Attention: Equity Syndicate Dept., (800) 326-5897 or
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. focuses primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial and residential real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.