Colony Financial, Inc. (the “Company”) (NYSE: CLNY) today announced that it has priced a public offering of 15,000,000 shares of common stock for expected gross proceeds of approximately $336 million before underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company also granted to the underwriters an option to purchase up to an additional 2,250,000 shares. The offering is subject to customary closing conditions and is expected to close on or about July 22, 2014.
The Company expects to use a portion of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility, and to use the remainder of the net proceeds from this offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines, and for working capital and general corporate purposes.
BofA Merrill Lynch, J.P. Morgan, Barclays, Credit Suisse and Deutsche Bank Securities are acting as the joint book-running managers for this offering. The underwriters may offer the shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.
The offering of the shares will be made under the Company’s automatically effective shelf registration statement, which was filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and prospectus, which has been filed with the Securities and Exchange Commission. Before you invest, you should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting the SEC website at www.sec.gov. Alternatively, you may obtain copies, when available, by contacting BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing email@example.com, J.P. Morgan at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204, Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847 or by email at Barclaysprospectus@broadridge.com, Credit Suisse at One Madison Avenue, New York, NY 10010, Attention: Prospectus Department, by telephone (toll free) at (800) 221-1037 or by emailing firstname.lastname@example.org, or Deutsche Bank Securities at Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, by telephone (toll free) at (800) 503-4611 or by email at email@example.com.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of any securities in any state or 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 jurisdiction.
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