This Day On The Street
Continue to site
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

Capital Trust, Inc. Announces Reverse Stock Split And Name And Ticker Symbol Changes

NEW YORK, April 26, 2013 /PRNewswire/ -- Capital Trust, Inc. (NYSE: CT) (the "Company") today announced that its board of directors has approved a reverse stock split of the Company's class A common stock at a ratio of 1-for-10.  In addition, the Company announced that it expects to change its name to Blackstone Mortgage Trust, Inc. and its stock ticker symbol to "BXMT" concurrently with the consummation of the reverse stock split.  The reverse stock split and name and ticker symbol changes are expected to take effect at about 5:01 p.m. (EDT) on May 6, 2013 (the "Effective Time").

Accordingly, at the Effective Time, every 10 shares of issued and outstanding class A common stock will be converted into 1 share of class A common stock.  In addition, at the market open on May 7, 2013, the class A common stock is expected to trade under the symbol "BXMT" and will be assigned a new CUSIP number: 09257W 100.

As a result of the reverse stock split, the number of outstanding shares of class A common stock will be reduced to approximately 2,926,651. The number of authorized shares and the par value per share will remain unchanged. No fractional shares will be issued in connection with the reverse stock split.

Following the completion of the reverse stock split, the Company's transfer agent will aggregate all fractional shares that otherwise would have been issued as a result of the reverse stock split, and each of the stockholders holding fractional shares will be entitled to receive, in lieu of such fractional shares, cash in an amount equal to such stockholder's pro rata percentage of the proceeds of the sale in one or more open market transactions of the aggregate of all such fractional shares.  The reverse stock split will apply to all of the Company's outstanding class A common stock and therefore will not affect any stockholder's relative ownership percentage. The Company's stockholders will be receiving information from American Stock Transfer and Trust Company, LLC, the Company's transfer agent, regarding the mechanics of exchanging their share certificates and receiving cash in lieu of fractional shares.

1 of 2

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs