This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

IStar Launches Offering Of Series J Cumulative Convertible Perpetual Preferred Stock

NEW YORK, March 12, 2013 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI) announced today that it has launched an offering, subject to market and other conditions, of 3,000,000 shares, or $150 million aggregate liquidation preference, of its Series J Cumulative Convertible Perpetual Preferred Stock ("Series J Convertible Preferred Stock").  The underwriters have the option to purchase up to 450,000 additional shares, or  $22.5 million aggregate liquidation preference, of Series J Convertible Preferred Stock. The Company intends to use the net proceeds of the offering for new investment activities and for general corporate purposes.

Barclays Capital Inc., BofA Merrill Lynch, and J.P. Morgan are the joint book-running managers for the offering.  The Series J Convertible Preferred Stock will be issued pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered securities, nor shall there be any sale of the securities in any state or other 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 other jurisdiction. 

The Series J Convertible Preferred Stock will be offered by means of the preliminary prospectus supplement and accompanying prospectus. Electronic copies of the preliminary prospectus supplement and accompanying prospectus may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers at the following addresses or telephone numbers:

Barclays Capital Inc.c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 barclaysprospectus@broadridge.com 1-888-603-5847 (toll free)

BofA Merrill Lynch    222 Broadway New York, New York 10038 Attn: Prospectus Department dg.prospectus_requests@baml.com

J.P. Morgan Securities LLCc/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 1-866-803-9204 (toll free)

SOURCE iStar Financial Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs