GREENWICH, Conn., Sept. 10, 2013 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced the pricing of an underwritten public offering of 25,000,000 shares of its common stock for total estimated gross proceeds of approximately $607.5 million (or approximately $698.6 million if the option to purchase additional shares is exercised in full). The underwriters have a 30-day option to purchase up to an additional 3,750,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on September 13, 2013. 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 purchase additional commercial mortgage loans and other target assets and investments. 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, Deutsche Bank Securities and Wells Fargo Securities are acting as joint book-running managers 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, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Tel: 800-831-9146 or e-mail email@example.com; Deutsche Bank Securities, 60 Wall Street, New York, New York 10005-2836, Attention: Prospectus Group, by calling (800) 503-4611, or by emailing firstname.lastname@example.org; or Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Dept., (800) 326-5897 or email@example.com.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.